Pierer Mobility AG races at full speed from one record to the next. The group, which specializes in the production of motorcycles and bicycles and is based in Mattighofen (Upper Austria), generated a turnover of 1.387 billion euros in the first half of the year – an increase of more than 200 million euros.
In the first half of 2023, Pierer Mobility AG achieved almost 60 percent of its sales in Europe, 28 percent in North America and Mexico and was able to further increase sales. After six months of 2023, this was 1.387 billion euros. Although there was also a plus in the operating result, profit after tax fell compared to last year and amounted to 53 million euros.
the staff is growing
Since the beginning of the year, the workforce at the group of companies led by Stefan Pierer has increased by 226 employees. 5146 of the total of 6314 employees work in Austria.
While the motorcycle industry with the brands KTM, Husqvarna and GasGas continues to run smoothly, the people of Mattighofen are already feeling the dampening in the bicycle industry.
Discounts depress the result
According to Pierer Mobility, the warehouses are full and discounts are being used more and more, which in turn is depressing the profit figures. The company speaks of “major changes in the bicycle market in general”: “The consolidation that has already begun and is expected to have profound consequences for the entire bicycle industry.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
