Ahead of listing Felt parent adds 50% bike and 37% e-Bike growth

In its full year 2021 report, new Felt Bicycles parent Pierer Mobility has seen pedal powered bike sales rise by 50% and electric bikes register a 37% year-on-year uptick.

Now selling three times the number of electric bikes than it does pedal cycles, at 76,916 units versus 25,837 units in 2021, the European bike and motorcycle giant topped 100,000 units for the first time. The acquisition of Felt Bicycles completed in December and will therefore begin to contribute to the numbers from this year.

Revenues for the group as a whole registered up 33% to reach €2,041 million and EBIT shot up by 80% to hit €193.5 million.

The 2021 financial year was marked by a significant investment period for Pierer with around €203.1 million invested in further growth, of which around EUR 131.1 million was invested in product development and tools.

That trend of bolstering the group’s capabilities will not slow down in the years ahead; the group speaks of “at least three electric platforms with multiple products will be introduced by 2024”, though these are primarily motorcycle division developments.

“In the range above this, efforts will focus on the technological advancement of conventional forms of propulsion with synthetic fuels for avoiding CO₂. The main goal is to fully exploit the innovation and development potential in the field of electric mobility and to help shape the growing market with e-fuel-powered combustion engines and secure market share as a global player with the strong brands of the Pierer Mobility Group,” said the statement.

Forward looking
As other financial statements are flagging, Covid-19’s unwelcome resurgence is troubling, in particular in destinations where the world leans on the shipping and supply of key lines. Aside to this, international supply chains remain generally strained and there are further concerns that Russia’s war on Ukraine will cause turbulence.

Guidance for the 2022 financial year is for Pierer to deliver revenue growth of between 6% and 10% (2021 financial year: EUR 2,041.7 million) with an EBIT margin of 8% to 10% and an EBITDA margin between 15% and 17%.