PIERER Mobility AG - "another record year in 2022"
Pierer Group of Austria - the owner of KTM, Husqvarna, GasGas (and more besides, including 25.1% of MV Agusta) - has made it a clean sweep of record years for Europe's 'Big Five' manufacturers with a 13% increase in the number of motorcycles sold (all brands) at 375,492 units (332,881 in 2021).
Consolidated sales increased by 19.4% to a new record of € 2,437m (previous year: € 2,042m) in the 2022 financial year despite severe supply chain challenges. The preliminary operating result (EBIT) improved by about 22% to € 235m (previous year: € 193m), which corresponds to an EBIT margin of 9.7%. The operating result before depreciation and amortisation (EBITDA) of € 381m is approximately € 50m more than in the previous year. The EBITDA margin amounts to 15.6%.
In the 2022 financial year, about € 268m were invested in growth initiatives, of which approximately € 161m was spent on product development and tools and € 62m in plant and infrastructure.
In the past financial year, the number of employees increased by 839 to 6,088 - about 5,000 in Austria, with approximately 1,200 employees (or 20% of the workforce) engaged in research and development.
There were 268,575 KTM motorcycles, 75,266 Husqvarna motorcycles and 31,651 GasGas motorcycles sold. In the sales regions in Europe, unit sales were around 122,000 motorcycles (+2%) and around two-thirds of the motorcycles (approx. 253,000) were sold in the markets outside Europe.
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| 2023 Dakar Rally Victory - Red Bull KTM Factory Racing - Kevin Benavides.jpg: KTM celebrates 19th Dakar Rally title with 2023 winner Kevin Benavides. |
Growth was particularly strong in North America, where almost 110,000 motorcycles were sold, an increase of +67%; South America with 37,600 (+16%) and in Asia with about 32,000 (+7%) motorcycles sold. Sales in Australia were roughly at the previous year's level (-6%) with around 19,500 motorcycles sold. In India/Nepal, sales were around 51,500 units (-15%).
After a strong increase in global demand for motorcycles in the previous year, both the European motorcycle market (-3%) with a volume of about 730,000 units, and the North American motorcycle market (-5%) with a size of about 470,000 units have slightly decreased.
The market share of all three brands was about 10% in Europe and 11% in North America in 2022. The Australian (including New Zealand) motorcycle market also declined slightly, with a 10% drop to 70,000 new motorcycles registered. Nevertheless, the market share of the three brands in total increased to 20% in this market. The relevant Indian motorcycle market, on the other hand, is clearly on the upswing (+23%). Bajaj sold almost 50,000 KTM and Husqvarna motorcycles in India, resulting in a market share of 5%.
In addition, the bicycle division with the brands Husqvarna, R Raymon, GasGas and Felt achieved sales volume growth of more than 15% and sold 118,465 bicycles (previous year: 102,753), of which 74,479 were e-bicycles (previous year: 76,916). About 81% of the sales volume can be attributed to Europe and especially to the DACH region (Germany, Austria and Switzerland). Another 11% relates to the North American sales region and around 7% to the Asian sales region.
PIERER Mobility AG reached a significant milestone with KTM in India. The one millionth motorcycle - a KTM Adventure 390 - rolled off the production line at Bajaj's Chakan plant in Pune. This Bajaj Auto Limited plant has been co-developing and producing KTM (125 cc to 390 cc) and Husqvarna (125 cc to 401 cc) motorcycles for global distribution since 2011.
Meanwhile, in Europe KTM AG took over European distribution for CFMoto motorcycles (principally in Germany, Austria, Switzerland, Spain and Great Britain) through a newly founded KTM AG subsidiary (CFMOTO Motorcycles Distribution GmbH).
In November 2022, KTM AG acquired a 25.1% stake in MV Agusta Motor S.p.A., by way of a capital increase. As part of this strategic partnership between the two European motorcycle manufacturers, KTM says it will provide MV Agusta with supply chain support and will take over the sourcing of components, with MV Agusta partly distributing its product range through the worldwide PIERER Mobility distribution network.
