Pierer Mobility to list on Vienna stock exchange

Pierer Mobility, the parent group to bike labels Felt, Husqvarna, R Raymon and GasGas, as well as motorcycle giant KTM, will list on the Vienna Stock Exchange.

CEO Stefan Pierer outlined the step in this week’s financial update, stating: “With this step, we would like to send a signal to our home market and the Vienna Stock Exchange of our commitment to the Austrian capital market and are already looking forward to the admission to the prime market.”

The listing is expected to commence from March 1st on the primary exchange. The primary listing of the shares of Pierer Mobility AG (ISIN: AT0000KTMI02) remains with SIX Swiss Exchange.

Financial update

Alongside the stock exchange listing news came the group’s preliminary revenue and earnings for the 2021 financial year, within which bicycle sales rose 40% and electric bike sales 37% (this had been previously reported). Bicycle units produced and sold hit 102,753 units, up from 76,916 the year prior, while electric bikes rose to 76,916 units versus 56,064 the year prior. The business does the vast majority of its trade (76%) in the DACH region.

2022 guidance

The now familiar supply chain challenges line is wheeled out, as is to be expected, however Pierer Mobility Group’s statement says little more on the matter.

The group will focus on “core areas in the 2022 financial year, both with regard to motorcycles and (e-)bicycles. The Management Board expects revenue growth of between 6% and 10% (2021 financial year: approx. EUR 2,041.7 million) with an EBIT margin of 8% to 10% and an EBITDA margin between 15% and 17%.

For a guide to recent stock exchange listings, as well as UK held stocks check in with CI.N’s investor’s guide here.