May 1, 2025 - Pierer Mobility AG has announced that it will withdraw completely from the bicycle and e-bike business in the 2025 financial year. The news follows the release of its unaudited preliminary and provisional key financial figures which show an overall decrease of around 29% compared to the 2023 financial year, to € 1.9 billion in 2024 from around € 2.7 billion in 2023.
For 2024, the company sold 106,311 electric bikes and bicycles (previous year: 155,859), which corresponds to a decline of around 32% which is due in part to the sale of its R Raymon brand.
Pierer Mobility’s stocks of Husqvarna and GASGAS electric bicycles will be sold off, while strategic options are being evaluated for its 70 per cent stake in Felt which was sold to a consortium led by Florian Burguet, former Managing Director KTM Canada, back in 2023 and has relocated to Barcelona, Spain.
Its motorcycle division also saw a decline of around 21% from the previous year noting that 292,497 motorcycles were sold in 2024 vs 372,511 motorcycles in 2023, of which over 60,000 were sold via its Indian partner Bajaj Auto.
Earlier this year the company had announced it was realigning and streamlining its global business activities by consolidating its operational functions at its headquarters in Munderfing, Austria, and Murrieta, California, USA, while phasing out operations in South Africa, Germany, and the United Kingdom.
Pierer Mobility AG will focus on restructuring of its motorcycle business following the insolvency of its subsidiary KTM AG in Dec. and injection of funds totalling € 150 million from strategic partner Bajaj Auto.
2024 Financial Year Outlook here.
