Pierer Mobility Preliminary Sales Report Reveals Extent of Losses
KTM’s parent company Pierer Mobility has revealed a preliminary 2024 annual sales report, and the numbers aren’t pretty
Pierer Mobility has revealed its preliminary 2024 annual year report which shows huge losses including a drop in sales of 29 per cent compared to 2023.
According to the report KTM’s parent company also estimates that the drop in sales by 29 per cent has resulted in a drop from €2.7 billion (around £2.3 billion) in 2023 to €1.9 billion (over £1.6 billion) in 2024. Net debt is reportedly €1.643 billion, while the firm’s equity is also suffering at €-199 million for the year.
Pierer Mobility sold 292,497 motorcycles in 2024, although 60,000 of those were sold by Bajaj. That’s a 21 per cent decrease from the same time frame the previous year, as it sold 372,511 motorcycles in 2023.
Of the 292,497 motorcycles sold in 2024 around 110,000 of those headed to the European market. That means Europe was responsible for 38 per cent of the group’s sales. North America accounted for 24 per cent, while India and Indonesia (via partner Bajaj) combined for 21 per cent but remaining sales across all other countries came in at just 17 per cent.
The company is also making the big decision to scrap its bicycle business in the 2025 financial year. All Husqvarna and GasGas e-bikes will be sold off as a result.
Between the start of 2024 and end of March 2025, the Group's employee numbers fell by more than 1,850. As of 31 December 2024, the PIERER Mobility Group had 5,310 employees within the organisation compared to 6,184 the year before. That’s a reduction of 874 in 2024 alone.
But in the first three months of 2025 a further 750 people were made redundant. It also claims the sale of the majority stake in MV Agusta could reduce the workforce by a further 220 people in the first half of 2025.
In the preliminary report Pierer Mobility says: “As announced on April 22, 2025, the creditors of KTM AG, KTM Components GmbH and KTM Forschungs & Entwicklungs GmbH approved a restructuring plan quota of 30 per cent on 25 February, 2025, payable by 23 May, 2025. PIERER Mobility AG is currently in the finalization phase of negotiations with equity and debt investors with the aim of securing financing for these restructuring plans totalling around €600 million.
“The positive conclusion of the investor process is, among other things, a prerequisite for the reorganization of KTM AG and thus for the continued existence of the Group. The main outstanding accounting issue is the confirmation of the going concern assumption.
“The binding financing commitments of the investors from this process are a prerequisite for accounting at going concern values and the corresponding confirmation of the annual financial report. If the investor process fails, which the Executive Board does not currently expect, the company would have to recognize liquidation values in the absence of a positive going concern forecast and prepare a new annual financial report for 2024.
“The corresponding funding commitments were expected for the end of April 2025, but are not yet available. The completion of the audit for the preparation of the annual financial statements as of 31 December 2024 was therefore postponed at short notice. The company is endeavouring to publish the 2024 annual financial report by 30 May, 2025.”
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