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PIERER MOBILITY (PKTM) investor relations material
PIERER MOBILITY H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 2025 was marked by the completion of restructuring, resulting in a €1.2 billion profit, major divestments, and a focus on core motorcycle brands.
Production was halted for several months, leading to a sharp decline in output and sales, but dealer inventories were reduced as planned.
Workforce reduced by over 1,700 employees compared to 2023, with headcount at 4,303 as of June 30, 2025.
Sale of MV Agusta and KTM Sports Car (X-BOW); bicycle business to be discontinued by end of 2025.
New executive board appointed in 2025, with major changes in shareholdings.
Financial highlights
H1 2025 revenue: €425.2 million, down 57.8% year-over-year due to production stoppages and restructuring.
EBITDA: €1,003.2 million, EBIT: €930.3 million, both driven by a €1,186.5 million restructuring profit; adjusted EBITDA: €-183.3 million, adjusted EBIT: €-256.2 million.
Net income: €743 million, compared to a loss of €990 million in H1 2024; earnings per share: €22.00.
Net debt reduced by more than half to €756 million; equity returned positive at €532 million, equity ratio 27%.
Inventory reduced from €618 million to €394 million, freeing up €223 million in cash.
Outlook and guidance
FY 2025 revenue expected to remain significantly below previous year due to H1 results and ongoing difficult environment.
Positive EBITDA expected in 2026, with a return to positive EBIT in 2027 as cost-cutting measures take effect.
Production to remain at one-shift model (110,000 units/year) in 2026, with gradual ramp-up planned over five years.
Targeting a return to over 200,000 units annually within five years, prioritizing profitability over volume.
Investments to be reduced, leveraging existing production capacity.
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