Pierer Mobility - Increases 2020 earnings forecast for a second time
The Board of Directors of Pierer Mobility AG has announced that "due to the continued positive global demand for powered two-wheelers (motorbikes and e-bicycles), we are again raising the revenue forecast for the 2020 financial year that we published in September 2020.
"For the 2020 financial year, annual Group sales are now expected to exceed € 1,500m. Due to the high demand, in the second half of 2020 we have largely made up for the lost production and sales volumes from the COVID-19 lockdown in the spring.
"We have generated sales of approximately € 900m. This means that turnover for the second half of the year will be more than +17% higher than in the same period of the previous year.
"With an expected EBIT of approximately € 100m for the 2020 financial year, the EBIT margin is above the published guidance range of 4-6 % of turnover. Free cash flow will be above € 130m and thus significantly above the last forecast".
