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EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Change in Forecast/Strategic Company Decision
PIERER Mobility AG:
14-Jun-2024 / 17:48 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News
- a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to article 17 Regulation (EU) No 596/2014 (MAR)
Ad hoc announcement pursuant to article 53 LR

Wels, June 14, 2024

PIERER Mobility adjusts guidance for 2024

In the current financial year, momentum in PIERER Mobility's core motorcycle markets in the USA and Europe has slowed
significantly. Due to the latest interest rate decisions in the USA, interest rates are expected to remain high, which
will have a negative impact on sales expectations for the American market. Sales figures in Europe are also still
volatile. Overall, PIERER Mobility's sales figures will fall short of expectations this year after three years of
above-average success.

This means that dealers will have to reduce their inventories and thus continue to tie up considerable capital.
Together with extended payment terms and higher discounts this is expected to have a significant negative impact on
EBIT and the financial result in the current financial year.

During the coronavirus pandemic, demand for bicycles rose rapidly, leading to overheating in the bicycle market and
disruptions throughout the entire supply chain. As a result, our own stocks and those of suppliers and dealers reached
record levels. The reduction of these inventories to a normal level is continuing, while at the same time massive
pressure is being exerted on sales prices Due to these developments, the extraordinary impairment and restructuring
requirements in 2024 will lead to a significantly negative result in the Bicycles segment.

Adjustment of the guidance for the 2024 financial year

For the 2024 financial year, the Executive Board expects a decline in sales of 10% to 15% for both the motorcycles and
bicycle divisions due to the current market developments.

In the Motorcycles division, the Executive Board assumes that the cost savings introduced in the current financial year
will be able to compensate for the negative effects of declining sales to such an extent that a balanced to slightly
positive EBIT can be generated. The development of existing dealers and the further expansion of the dealer network to
support the brand strategy will be key issues in 2024.

In the Bicycle division, however, the Executive Board anticipates a significantly negative EBIT of EUR -110 to EUR -130
million for the 2024 financial year, which is essentially due to the above-mentioned extraordinary impairment and
restructuring requirements. The restructuring of the Bicycle division is therefore complete.

Legal disclaimer

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE
SECURITIES OF PIERER MOBILITY AG. IT IS NOT FOR DISTRIBUTION, TRANSMISSION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN
WHICH THE DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

Contact:
Investor Relations
Melinda Busáné Bellér
Tel: +43 (0) 1 533 1 433 - 70
Email: ir@pierermobility.com
Website: www.pierermobility.com

ISIN: AT0000KTMI02; Swiss Valor Number (Switzerland): 41860974; Ticker Symbol: PKTM; Bloomberg: PKTM SW, PKTM AV;
Reuters: PKTM.S; PKTM.VI

End of Inside Information  
14-Jun-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com  
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 
WKN:          A2JKHY 
Listed:       SIX, Vienna Stock Exchange 
EQS News ID:  1925891 

Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM SW; PKTM AV Reuters: PKTM.S; PKTM.VI

End of Announcement EQS News Service
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1925891 14-Jun-2024 CET/CEST

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END) Dow Jones Newswires

June 14, 2024 11:49 ET (15:49 GMT)