PIERER Mobility

PIERER Mobility posts -27% revenue decline for H1, 2024; unit sales down by -21.2% in "economically volatile and difficult conditions"

The PIERER Mobility Group generated revenue of € 1,007m (-27%) in H1 2024. Around 93% of this was attributable to the Motorcycles segment and 7% to the Bicycles segment. Around 61% of revenue was generated in Europe, 27% in North America (USA, Canada, Mexico) and 12% in other countries.

"Negative, but in line with the current [recently revised] outlook for the 2024 financial year" was the primary verdict. "At € -195m, the operating result (EBIT) in H1 2024 was significantly below the previous year's figure of € 97m. 

"The main factor behind the negative result was the Bicycle segment at € -117m, of which around € -75m was attributable to special write-offs/effects. The result in the Motorcycles segment amounted to € -78m. The Executive Board expects that the second half of the year - primarily driven by a higher-margin product mix - will turn the overall result into positive territory for the 2024 full year".

The operating result before depreciation and amortisation (EBITDA) of € -102m (previous year: € 179m) corresponds to an EBITDA margin of -10%. The result for the period amounted to € -172m (previous year: € 53m).

"The main drivers behind the results for the first half of the year were the decline in sales due to the economic environment (particularly in the USA), expenses in connection with the restructuring of the Bicycles segment, as well as the production and personnel costs in Europe".

H1 2024 Motorcycles segment revenue fell by 27% to € 936m. EBITDA reached € 11m (previous year: € 196m) and EBIT amounted to € -78m (previous year: € 117m).

"The macroeconomic environment remained challenging in H1 2024. In particular, high interest rates in the USA, inflation in many European countries and a slowdown in global economic growth had a negative impact on PIERER Mobility's motorcycle sales in H1 2024, which fell by -21.2% to a total of 147,496 units. 

"Around 44% of motorcycles were sold in Europe, 21% in North America, including Mexico, 22% in India and Indonesia, and 13% in the rest of the world. In H1 2024, PIERER Mobility acquired a majority stake in MV Agusta. The integration of the Italian luxury motorcycle manufacturer is going according to plan".

The development of motorcycle registrations in PIERER Mobility's core markets presented a "mixed picture in the first half of the year: a slightly positive trend in overall demand in Europe, driven primarily by the low-price segment (Chinese imports), was offset by a decline in demand in North America as well as in Asia, Australia and New Zealand. In this environment, PIERER Mobility succeeded in maintaining or achieving a market share of over 10% in each of the key markets of Europe, the USA and China".

The company says that "significant improvements expected in H2 2024" as it has "taken measures to improve earnings". Moving forward, these will additionally include "the reduction of an additional 200 employees in the overhead area. Together with the cost reductions and personnel adjustments already made in the first half of the year, this will secure and strengthen the competitiveness of PIERER Mobility AG in the long term.

"The reduction in production volumes by around 25% in 2024 is intended to relieve pressure on the product pipeline and dealer warehouses. This will lead to a significant reduction in capital commitment and therefore also in net debt.

"Another focus is on increasing efficiency in product development. The focus is on aligning and prioritising activities as part of the Group's premium brand strategy as well as streamlining and accelerating development processes. Following on from this, we are leveraging further synergies in research and development with our strategic partners".

The loss-making bicycle division is to be "systematically restructured. The realignment already initiated in the 2023 financial year, with a focus on the premium segment, will be implemented and completed in 2024".

An increase in net debt of € 1,469m was due to the negative result as well as the increased capital commitment - including "the necessary support for the global dealer network. As a result of the packages of measures, working capital, and therefore net debt, will return to a significantly lower level by the end of 2025. The necessary financing requirements have been secured".

PIERER Mobility AG: Economically volatile and difficult conditions led to a negative result in H1 2024, outlook for the full year confirmed:

• Results in H1 2024 negative, but in line with the current outlook for the 2024 financial year
• Significant improvement expected in H2
• Working capital remains at a high level, significant improvements expected at the end of 2024 and in 2025
• Increased net debt, but solid financing structure
• Motorcycle market: challenging market environment - Europe slightly positive, North America, Australia and China declining, India positive
• MV Agusta integration process going according to plan
• Bicycle market: persistent oversupply on the market necessitated value adjustments, focus on the premium segment
• Full-year outlook for 2024 confirmed

Rieju

Rieju acquires Win Life Electric Vehicles' assets

Spanish manufacturer Rieju has acquired the assets of fellow Catalan company Win Life Electric Vehicles, S.L., including its intellectual property and industrial platform. The RAY 7.7 electric scooter and future models will be manufactured and marketed under the Rieju brand.

Rieju, S.A. will manufacture the electric scooter models at its Figueres plant and will start distributing them during the current year 2024, providing spare parts and after-sales service to the brand's customers.

"Rieju, S.A. is on a robust trajectory and has successfully consolidated over more than 80 years of history. It currently manufactures more than 20,000 motorbikes annually at its facilities in Figueres and exports 85% of its production to more than 40 countries. With this acquisition, Rieju, S.A. strengthens its position in the electric segment and redoubles its commitment to sustainable electric mobility in urban environments".

Jordi Riera, General Manager of Rieju, S.A., is quoted as saying: "This agreement allows Rieju to reinforce its presence and commitment to urban electric mobility, as well as making a significant expansion of our customer base, especially with the opening of new markets.

"We are very excited about this new project. We have an extensive national and international distribution network that will allow us to continue growing in a segment that we consider strategic for the future."

www.rieju.es

Yamaha

Yamaha debuts semi-automatic MT-09 By Ben Purvis

The manual gearbox is rapidly disappearing from modern cars as manufacturers find customers increasingly opt for autos, and now there are the first indications that the motorcycle market could be heading in the same direction, with multiple manufacturers launching self-shifting bikes for 2025.

Yamaha is the latest, revealing its Y-AMT 'automated manual transmission'. It debuts on the latest version of the MT-09 triple, but is expected to be adopted across multiple bikes over the next few months. It joins BMW, which has already unveiled the 'ASA' (Automated Shift Assistant) for the 2025 R 1300 GS and R 1300 GS Adventure, and KTM, which has teased a prototype of its upcoming automatic 1390 Super Adventure. 

Other companies, including CFMoto and QJMotor in China, are also working on semi-auto bikes, and Kawasaki already uses such a transmission on its Ninja 7 Hybrid and Z7 Hybrid models.

All of these bikes are coming as a reaction to two developments from Honda. First, there's the DCT dual-clutch transmission, offered on multiple bikes since 2009, but now really hitting its stride in terms of sales - with DCTs at least matching the sales of manual models on bikes like the Africa Twin - despite a weight and price penalty for the automated transmission. Second is the new Honda E-Clutch, currently offered on the CB650R and CBR650R, but expected to come to many more models soon. It doesn't automate gearshifts, but does eliminate the need to use the clutch lever. Unlike DCT, E-Clutch has a minimal impact on cost and complexity and should be relatively easy for Honda to add to almost any bike with a conventional gearbox.

Like BMW's ASA and KTM's upcoming semi-auto transmission, Yamaha's Y-AMT is an automated version of a normal six-speed manual. Two electromechanical actuators are added externally, one to control the clutch and the other operating the input spline where the shift lever would normally attach, and there's a standalone control unit that plugs into them, taking inputs from existing sensors on the bike, including the throttle position and the IMU to control the gear shifts.

The system offers three modes. Two are fully automatic, with the bike controlling the shifts itself. 'D' mode is for normal riding, while 'D+' lets the engine rev higher before shifting up. 'MT' mode, meanwhile, gives the rider control over shifts via a see-saw paddle on the left bar. You can either use your forefinger for both up and downshifts via a trigger-like paddle - pull it to change up, push it to change down - or use the trigger for upshifts and a thumb button to change down. These controls also override the computer when the bike is in either of its fully-automatic 'D' modes.

Transmission aside, the MT-09 Y-AMT is identical to the manual version, with the same 87.5 kW, 889 cc triple and no changes to the chassis, styling or suspension. The automated transmission system adds only 3 kg of weight and should be relatively affordable. Yamaha has already said that the Y-AMT transmission will be added to multiple models in the future, across several segments of the market, so expect to see other bikes - starting with MT-09 derivatives like the Tracer 9, XSR900 and Niken - with semi-auto gearboxes in the near future.

Landport

New Landport expo booth presentation for EICMA

Following a successful powersports packaging redesign programme, Dutch battery specialist Landport says it will complete the brand positioning process with a brand-new exhibition stand at international trade shows - not least at EICMA in November: Hall 9/A68.

"Last year, we significantly upgraded our Powersports range with a fresh and modern packaging design," says Landport Proposition Marketeer Davie Klein.

"This revamp wasn’t just about aesthetics, it reflected our core values of reliability, quality and innovation. The new packaging was designed with both functionality and branding in mind, ensuring that our products make a powerful impression on the shelf in the motorcycle dealership, just as they do in the field.

"Our new exhibition stand is a natural extension of this packaging evolution. Featuring sleek, modern design elements and advanced presentation technologies, our stand offers a visual experience that aligns perfectly with the premium nature of our products. The stand is designed to provide visitors with an interactive experience, allowing them to explore the strength and versatility of our batteries and energy solutions up close."

www.landportbv.com

Matris

Triumph Daytona 660 suspension options

Italian suspension specialist Matris has complete suspension upgrade options for Triumph's new Daytona 660 three-cylinder sports bike.

For the front, a fully adjustable - compression, rebound and preload - hydraulic cartridge choice is available from its high-end range of options: quad-valve, classic, sealed front fork kits.

For the rear suspension, Matris offers its sophisticated three-way "R" series shock for race and track use.

To grant greater safety at high speed on track or road, and to reduce the shaking of the front wheel, Matris also offers a choice of ready to fit steering damper kits based on its well-known "Speed Sensitive System" SDR and SDK series.

Fully adjustable, they are a hydraulic, dampened nitrogen gas pressurised design with front-transversal energy management - absorbing the vibrations and wheel clatter produced by road surfaces and riding direction dynamics.

For the rear monoshock, the choice is between the M46K-F fully multi-adjustable (compression, rebound, ride-hight and preload) and the entry-level M46KD.

Both can be equipped with the Matris "PK" remote flex-knob hydraulic spring preload unit for an easy and quick change of setting, according to the rider's needs. They are available with classic orange spring or in the Dark series with black spring.

At the front, a full range of hydraulic, asymmetric quad-valve system cartridge kits are available - all fully adjustable on compression, rebound and spring preload.

The choice is between the 25 mm asymmetric "sealed and pressurised" F25SA, its top high-end cartridge; the 25 mm asymmetric "classic" quad valve F25R, its classic race-track cartridge, and its entry level 20 mm asymmetric quad valve F20K.

As with all Matris front suspension components, they replace all the original internal fork parts, are a fully 'plug and play', fully reversible, modification-free install. Different spring rates are available for front and rear suspensions.

MATRIS S.R.L. 

www.matrisdampers.com

MIZU

MIZU jack-up and lowering kits

German parts and accessory manufacturer MIZU is well known for its lowering and jack-up kits. Seen here for the Honda GL1800 Gold Wing and Suzuki SV/SFV 650 models, they are manufactured by MIZU from high-grade galvanised steel at its ISO 9001 accredited factory at Hilzingen in southern Germany. 

Jack-up kit

They are backed by a two-year warranty and supplied with ABE approval paperwork.

MIZU says that it is looking to expand its dealer network in countries where the company is not yet represented, including Italy, UK, the USA and Poland.  

Lowering kit

MIZU

www.mizu.de

Polini

Evolution 3 kit for Vespa 125 Primavera ET3

Italian scooter performance specialist Polini's 58 mm Evolution 3 cylinder track kit for classic 135 cc Vespa models, this kit can be installed on the original Vespa crankcase without boring it - with increased power throughout the rpm band.

The versatile design means it can be installed in either the original or the “turned” position that is often used during the races on track. This position also favours the development and assembly of the muffler. 

The Polini Evolution 3 kit for Vespa with rotary valve induction can be fitted in all the 125 Vespas with crankshaft that have the same measurements as the original. Also available is a Polini balanced crankshaft (# 210.0033) with its connecting rod milled from a solid block that maintains the original 51 mm stroke.

The cylinder is cast in aluminium, with 58 mm bore, to reach a displacement of 135 cc. The liner with nickel-siliceous coating improves the piston sliding due to better wear and abrasion resistance. The transfer ports are designed for racing use, and it has six transfers.

The piston is gravity-cast in light alloy, and it has two S10 chromed cast iron rings. The head is cast in one piece only and some fins have been made under the head plane in order to improve the heat dissipation. The compression ratio has been optimised to achieve the best performance.

POLINI MOTORI SPA

www.polini.com