PIERER Mobility AG (KTM) Preliminary 2024 Financial Year Figures - Jan. 23, 2025

So Pierer is out?

CO-CEO

He is stepping down as CEO but will stick around in the role of co-CEO lol

SO he had 300Mil loss, sold just as many bikes as the year before and somehow added 2Bil in debt in the second half. OK.

Sold 21% less bikes as the year before

"Distributors and dealers sold around 268,000 motorcycles to retail customers, the same level as last year"

They differentiate selling to dealers and dealer sales (retail). Clear as mud.

Declining sales (to dealers), continued strong end customer demand (retail)

In the 2024 financial year, the Group sold 292,497 motorcycles (of which around 60,000 were sold via its Indian partner Bajaj), around 21% fewer than in the previous year (372,511 motorcycles). Around 110,000 motorcycles were sold on the European market. Europe thus accounted for 38% of Group sales; North America accounted for 24%, India and Indonesia (via partner Bajaj) for 21% and the remaining sales countries for 17%.

On a positive note, demand from consumers was strong. Distributors and dealers sold around 268,000 motorcycles to retail customers, the same level as last year. This demonstrates the continued high level of trust that dealers and consumers place in the company. Recent racing successes have confirmed this confidence. With three consecutive victories in the Enduro World Championship, two Supercross season openers and the first Dakar Rally win across all major motorcycle categories, the 2025 motorsport season has got off to a successful start.

Also odd: 

Stefan Pierer hands over CEO role to Gottfried Neumeister

Stefan Pierer will hand over the role of CEO of PIERER Mobility AG and KTM AG to Gottfried Neumeister and will continue to support him as Co-CEO during the restructuring process.

Obviously once you have stuffed the dealers the party is over. Just as I predicted.

How fitting is it that the new CEO is called New Master?

You'll figure it out

"Stefan Pierer will hand over the role of CEO of PIERER Mobility AG and KTM AG to Gottfried Neumeister and will continue to support him as Co-CEO during the restructuring process."

I guarantee Pierer's right nut looks like this guy. Sounds like he plans on having to step down.

Nothing to figurine out. Retail is the market not the dealers.

BTW it was their statement so I guess they are wrong too. 

We live in a fucking simulation 

Am I really going to have to spell this out for you? Someone even posted it in this thread so you don't even have to clicky the linky. Keep working, you got this.

And to be clear: with the other co-CEO being a loyalist who he hand picked. The rest of the board was dissolved.

2024

Produced 230 000 bikes

Sold 292 497 bikes to dealers 

Sold 268 000 bikes to customers 

Reduced global inventory by 38 000

Cut 1 800 employees 🤯

2023

Produced 385 330 bikes

Sold 372 511 bikes to dealers

Sold 268 000 bikes to customers

Added over 115 000 bikes in inventory

There was another announcement today:

"With the financial resources offered, the quota from the restructuring plans of KTM AG and its insolvent subsidiaries can be financed at least to the statutory extent of 30 per cent.

The company will enter into discussions with the investors who have submitted offers in order to define the detailed structure of the investments."

https://www.pierermobility.com/en/newsroom/eqsfeed/2924631?type=adhoc

I read it as they sold that amount to dealers but the dealers didn’t sell all their inventory 

If they're gonna try to revive it.They have a sales channel and distribution and inventory. So that's a positive.They are gonna have to discount bikes to stimulate the market to keep it going. 

The downside is they have a sizable debt.That is not going be resolved by profit from revenue. So there's gonna have to be write off at some point. Overall, it's a pretty big risk for an investor which is gonna be in the negative for several years. Until they figure out how to make it profitable again.