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    PMAG   AT0000KTMI02

PIERER MOBILITY AG

(PMAG)
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EQS-Adhoc: PIERER Mobility AG: First half-year of 2021 - On track for 11th record year

08/31/2021 | 12:31am EDT

EQS Group-Ad-hoc: PIERER Mobility AG / Key word(s): Half Year Results PIERER Mobility AG: First half-year of 2021 - On track for 11th record year 31-Aug-2021 / 06:30 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement.

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Ad hoc announcement pursuant to Art. 53 LR Wels, August 31, 2021 PIERER Mobility AG: First half-year of 2021 On track for 11th record year . Revenue: EUR 1,078.0 million? +80% vs. H1 2020; +43% vs. H1 2019 . EBIT: EUR 102.6 million; H1 2020: EUR 1.7 million . Unit sales: 215,646 motorcycles and e-bikes; H1 2020: 124,682 units? motorcycles: 176,045 +95% vs. H1 2020; e-bikes: 39,601 +15% vs. H1 2020 . Increase of 559 employees to 4,888 compared to first half of 2020 . Joint venture founded with MAXCOM for e-bike production in Bulgaria . Guidance 2021 Revenue, unit sales and earnings in the first half of 2021 Driven by the high global demand for powered two-wheelers (PTWs), the PIERER Mobility Group generated record sales and revenue in the first half of the 2021 financial year. In this period, group revenue of EUR 1,078.0 million (previous year: EUR 600.0 million) was generated, which represents an increase of 80% compared to the same period of the previous year. The operating result (EBIT) of EUR 102.6 million in the first half of 2021 is significantly above the previous year's result of EUR 1.7 million.

In the first half of 2021, PIERER Mobility AG sold a total of 176,045 motorcycles of the KTM, Husqvarna Motorcycles and GASGAS brands worldwide, taking into account the motorcycles sold via its Indian partner Bajaj (previous year: 90,331), almost doubling sales compared to the first half of 2020 (+95%). Furthermore, a total of 53,378 units were sold through the bicycle and e-bike division (+25%), which have been established very successfully. Of these, 39,601 were e-bikes and 13,777 were non e-bikes under the R RAYMON, HUSQVARNA and GASGAS brands.

Despite ongoing challenges in the supply chains, a total of 215,646 PTWs (motorcycles and e-bikes) were therefore sold worldwide (+73% compared to the previous year). Further market share gains in the important markets North America and Oceania The global motorcycle market continues to be on the upturn, with significant growth in the main sales regions in a half-year comparison. In addition to the main sales markets of Europe (+25%) and North America (+16%), registrations also increased significantly in Oceania (+10%), Japan (+22%) and Latin America (Colombia +62%, Brazil +43%, Argentina +31%).

The continued upturn in Europe is being driven by strong demand for motorcycles in Italy (+53%), Spain (+41%) and France (+28%). Compared to the first half of 2020, the PIERER Mobility Group increased registrations of its three motorcycle brands of KTM, Husqvarna Motorcycles and GASGAS by 20.8% across Europe, with a combined market share of 11.3%. The company expanded its presence further in North America and Oceania, with a market share of 11.3% in the North American market (USA and Canada), and to 18.9% in the Australian/New Zealand market (Oceania). The development in India is also positive, with an increase of 59% (in the relevant S2/S3 segment) and a market share of 6.9% for the two KTM and Husqvarna brands which are represented in India. Increase of 559 employees to 4,888 compared to first half of 2020 As of June 30, 2021, the PIERER Mobility Group employed 4,888 people. Compared to June 30, 2020, the PIERER Mobility Group has increased its headcount by 559 and continues to seek new employees in various areas.

As part of an apprentice drive, 80 more apprentices will begin their training this year. In total, the group is currently training around 200 apprentices. Joint venture founded with MAXCOM for e-bike production in Bulgaria PIERER Mobility AG and MAXCOM Ltd. decided in July 2021 to establish a 50:50 joint venture for e-bike manufacturing in Plovdiv, Bulgaria to expand the bicycle and e-bike production capacity. The total level of investment is EUR 40 million. A state-of-the-art e-bike production facility will be built over an area of 130,000 m². Commissioning is scheduled for the second half of 2023. The annual production capacity is around 350,000 units. PIERER Mobility AG brings its entire vehicle development and production expertise to the joint venture. MAXCOM Ltd. is one of the largest bicycle manufacturers in Eastern Europe and a member of the MAXEUROPE Group in Bulgaria. Further increase in revenue forecast for the 2021 fiscal year Due to the continued positive global demand for motorized two-wheelers (motorcycles and e-bicycles), the Executive Board announced on August 26, 2021, that it is again raising the revenue guidance for the 2021 fiscal year published in April 2021.

Despite the ongoing COVID-19 related supply chain challenges, the outlook remains positive and the Executive Board raises the revenue guidance for the 2021 fiscal year to EUR 1,900 million - EUR 2,000 million (previous 2021 revenue guidance: EUR 1,850 million - EUR 1,950 million). The forecast for the EBIT margin in the amount of 8 - 9% and the EBITDA margin > 15% remains unchanged. Group figures H1 2021 of PIERER Mobility AG (consolidated)

KEY FINANCIAL PERFORMANCE INDICATORS: 
 
Earnings figures                            H1 2020    H1 2021  Chg. 
Revenue                             EURm      600.0    1,078,0   80% 
EBITDA                              EURm       61.6      171.2 >100% 
EBITDA margin                                 10.3%      15.9% 
EBIT                                EURm        1.7      102.6 >100% 
EBIT margin                                    0.3%       9.5% 
 
 
OTHER FINANCIAL FIGURES: 
 
Earnings and cash flow ratios               H1 2020    H1 2021  Chg. 
Earnings after taxes                EURm       -9.6       78.3 >100% 
Free cash flow                      EURm      -26.6       66.6 >100% 
 
Balance sheet ratios                     12/31/2020 12/31/2021  Chg. 
Balance sheet total                 EURm    1,686.0    1,937.3   15% 
Equity                              EURm      654.1      725.5   11% 
Equity ratio                                  38.8%      37.4% 
Net debt                            EURm      312.4      255.8  -18% 
Gearing                                       47.8%      35.3% 
 
Others                                      H1 2020    H1 2021  Chg. 
Capex ^1)                           EURm       66.8       76.0   14% 
Employees                      Headcount      4,329      4,888   13% ^1) excluding lease additions (IFRS 16) 

The half-year report for 2021 is now available on the company website at https://www.pierermobility.com/en/ investor-relations/reports. The current investor presentation can be found at https://www.pierermobility.com/en/ investor-relations/presentation. About the Group

The PIERER Mobility Group is Europe's leading manufacturer of "powered two-wheelers" (PTW). With its motorcycle brands KTM, HUSQVARNA Motorcycles and GASGAS, it is one of the European technology and market leaders, especially for premium motorcycles. In addition to powered two-wheelers equipped with combustion engines or innovative electric drives, the product portfolio also includes e-bikes. As a pioneer in electromobility for two-wheelers in the low-voltage range (48 volts) the group and its strategic partner Bajaj have the prerequisites to assume a leading global role. Entering into the e-bike business was another important step in intensifying activities in the field of two-wheeled electromobility. Electric bicycles are being driven forward under the brands HUSQVARNA E-Bicycles, R Raymon and GASGAS E-Bicycles in order to participate in the attractive market growth of the e-bicycle segment and to become a major international player. Thanks to our innovative strength, we see ourselves as the technology leader in the two-wheeler sector in Europe.

Legal Disclaimer

THIS ANNOUNCEMENT NEITHER CONSTITUTES AN OFFER TO SELL NOR IS IT AN INVITATION TO SUBMIT A PROPOSAL FOR THE ACQUISITION OF SECURITIES OF PIERER MOBILITY AG. THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

Contact: Investor Relations Mag. Michaela Friepeß Tel.: +43 (0)7242 / 69402 Email: ir@pierermobility.com Website: www.pierermobility.com

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End of ad hoc announcement

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Language:     English 
Company:      PIERER Mobility AG 
              Edisonstrasse 1 
              4600 Wels 
              Austria 
Phone:        +43 (0) 7242 69 402 
E-mail:       ir@pierermobility.com 
Internet:     www.pierermobility.com 
ISIN:         AT0000KTMI02 
Valor:        A2JKHY 
Listed:       Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Munich, Stuttgart, Tradegate Exchange; SIX Swiss Exchange 
EQS News ID:  1229929 
Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PMAG, Bloomberg: PMAG SE, PMAG GY Reuters: PMAG.S 
 
End of Announcement EQS Group News Service 
=------------ 

1229929 31-Aug-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1229929&application_name=news

(END) Dow Jones Newswires

August 31, 2021 00:30 ET (04:30 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.10% 35258.61 Delayed Quote.15.32%
DOW JONES AFRICA TITANS 50 INDEX 0.03% 554.77 Delayed Quote.4.30%
EURO / ARGENTINE PESO (EUR/ARS) 0.28% 115.4827 Delayed Quote.11.90%
EURO / BRAZILIAN REAL (EUR/BRL) 0.99% 6.4557 Delayed Quote.-0.16%
PIERER MOBILITY AG -0.77% 77.3 End-of-day quote.16.24%
S&P AFRICA 40 INDEX 0.38% 179.34 Delayed Quote.3.27%
THE NASDAQ COLOMBIA INDEXED MARKET -0.16% 384.738395 Real-time Quote.-14.02%
US DOLLAR / ARGENTINE PESO (USD/ARS) -0.11% 99.065 Delayed Quote.17.85%
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Financials
Sales 2021 2 040 M 2 379 M 2 379 M
Net income 2021 97,5 M 114 M 114 M
Net Debt 2021 275 M 320 M 320 M
P/E ratio 2021 29,5x
Yield 2021 0,39%
Capitalization 1 739 M 2 018 M 2 028 M
EV / Sales 2021 0,99x
EV / Sales 2022 0,96x
Nbr of Employees 4 888
Free-Float 32,7%
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Managers and Directors
Stefan Pierer Chairman-Management Board & CEO
Friedrich Roithner Chief Financial Officer
Josef Blazicek Chairman-Supervisory Board
Klaus Rinnerberger Member-Supervisory Board
Ernst Chalupsky Vice Chairman-Supervisory Board
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