Pierer Mobility climbs after FY outlook hike, 'upbeat' 2023 guide
10/01/2023 11:48
** Shares in Pierer Mobility PMAG.VI are up nearly 3%
after the motorcycle manufacturer on Monday hiked its outlook
for 2022 and announced guidance for 2023
** The Swiss company raised its revenue growth forecast from
15% to 20% to EUR 2.4 bln for 2022
** The Swiss group added that its motorcycle unit sales went
up by 13% YoY to about 376,000 and bicycles units increases 15%
to about 118,000 in 2022
** According to analysts from Vontobel, 2022 was another
record year for Pierer Mobility with robust growth and
profitability, despite supply changes
** "For FY23, the company surprises positively with an
upbeat outlook in a challenging macroeconomic environment with
the provided guidance potentially triggering consensus upgrades
in the high single digits," Vontobel says
** It adds that the robust growth outlook and the launch of
the electric motorcycle portfolio by year-end provides sound
growth drivers also for FY24
** Pierer Mobility now expects its sales growth in the range
of 6-10% and EBIT margin of between 8-10% for 2023
($1 = 0.9199 Swiss francs)
(Reporting by Ozan Ergenay)
((ozan.ergenay@thomsonreuters.com))