Brief: Pierer Mobility Adjusts Guidance and Strategy

Bajaj Mobility AG

05/12/2023 16:57

Dec 5 (Reuters) - PIERER MOBILITY AG  PKTM.VI :
    * EQS-ADHOC: PIERER MOBILITY: STRATEGY SHARPENING AND
GUIDANCE
ADJUSTMENT
    * DIVESTMENT OF RAYMON AND FELT BRANDS AND NON-E-BICYCLE
DIVISION
    * CLOSING WILL TAKE PLACE BY END OF 2023
    * IN MOTORCYCLE BUSINESS COST OF DEALER INVENTORIES HAS
RISEN
SHARPLY DUE TO SIGNIFICANTLY HIGHER INTEREST RATES DESPITE GOOD
MARKET DEMAND. PIERER MOBILITY IS STRENGTHENING ITS DEALER
STRUCTURE BY EXTENDING PAYMENT TERMS AND OFFERING HIGHER
DISCOUNTS.
    * MANAGEMENT WILL IMPLEMENT COST-CUTTING MEASURES IN
DOUBLE-DIGIT
MILLION RANGE IN 2024 FINANCIAL YEAR
    * 2024 WILL BE A YEAR OF CONSOLIDATION, WHICH WILL BE USED
TO
STRENGTHEN CORE BUSINESS
    * BOARD OF DIRECTORS EXPECTS 2024 SALES TO REMAIN ALMOST
UNCHANGED
AND AN EBIT MARGIN OF 5 % - 7 %.

Source text for Eikon:  ID:nEQ7Phf2za 
Further company coverage:  PKTM.VI 

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