Sunday, 9 February 2025
Electric BikesNews

Pierer Mobility bucks trend to post record 2022

European brand powerhouse Pierer Mobility has bucked a general trend of shaky FY22 announcements by recording a 15% increase in bike division sales and overall revenues up 19%, reaching €2,437.2 million.

The performance-driven portfolio of brands like Felt Bicycles, GasGas and Husqvarna went largely through Europe at 81% of its sales volume, primarily through the DACH region. However, Pierer Mobility has now made clear that it plans to broaden the scope, including a more concrete approach to finding trade accounts in the UK with Ash Clark leading the outreach effort.

The volumes sold include 74,479 electric bikes, which while marginally down on the year prior, demonstrates the group’s ability to turn out high numbers of in demand products. Investments have been made steadily in production in order to boost the Mobility division’s share of the eBike market. As a result of this, the firm’s staff count has grown by 16% in the past year to top 6,000.

EBITDA for the group moved forwards by 15% and EBIT margins were 0.2% ahead in 2022. As with many across the trade, free cash flow may present challenges, declining from €172m to -€2.8m in the space of a year.

Moving forwards the company is inline with others in the market that seem to be predicting a light single digit growth for 2023; Pierer Mobility suggests 6% to 10% with an EBIT margin of 8% to 10%.

Pierer Mobility is also the parent to Syntace and Liteville, both of which it acquired in September.