PIERER Mobility AG stands as a leading force in the European motorcycle industry, renowned for its premium segment focus and innovative two-wheeler solutions. Headquartered in Wels, Austria, the company is the holding entity for KTM AG, uniting iconic brands like KTM, Husqvarna, and GASGAS under its umbrella. With a legacy of over 510 world championship titles, a significant 11% motorcycle market share in Europe, the US, and China, and strategic global partnerships with Bajaj Auto (India) and CFMOTO (China), PIERER Mobility AG is a dominant player in the premium motorcycle and high-performance vehicle sector.
Company Profile
PIERER Mobility AG is a publicly listed company on the Swiss Stock Exchange (since 2016) and the Vienna Stock Exchange (since 2018), operating as the holding company for KTM AG, a leading European manufacturer of premium motorcycles. The company’s core focus is on the premium segment, encompassing motorcycles, high-performance components under the WP brand, and specialized vehicles like the KTM X-BOW sports car. It also previously operated in the e-bicycle and bicycle markets through brands like Husqvarna, GASGAS, and Felt, though this segment is set to be discontinued in 2025.
In 2024, PIERER Mobility AG reported a workforce of 5,310 employees, a motorcycle market share of approximately 11% in key markets, and sales of 292,497 motorcycles worldwide. The company invested €174.6 million in product development, underscoring its commitment to innovation despite financial challenges. Its main production facility is in Mattighofen, Austria, with additional manufacturing through strategic joint ventures in India (Bajaj Auto) and China (CFMOTO).
The company faced significant macroeconomic headwinds in 2024, including stagnant European markets, a recession in Germany, and reduced consumer purchasing power in the US due to high living costs and expensive credit. These factors led to a significant reduction in production volumes (from 217,160 motorcycles in 2023 to 148,934 in 2024 at Mattighofen) and workforce downsizing (1,800 employees cut in 2024 and early 2025). KTM AG, responsible for over 96% of group revenue in H1 2024, underwent court-ordered restructuring proceedings with self-administration, necessitating €800 million in financing, supported by Bajaj Auto, to restart operations in March 2025.
Despite these challenges, PIERER Mobility AG remains a global leader in off-road motorcycles and a top producer of premium road motorcycles, with a strong racing heritage and a focus on innovation and quality.
Business Segments
PIERER Mobility AG operates primarily in two business segments: Motorcycles and Bicycles (the latter set to be discontinued in 2025). Below is a detailed breakdown of each segment, including revenue contributions and key details.
1. Motorcycle Segment
- Description: The Motorcycle segment is the core of PIERER Mobility AG’s operations, focusing on premium motorcycles under the KTM, Husqvarna, and GASGAS brands, alongside high-performance components from WP and the KTM X-BOW sports car. This segment includes both off-road and road motorcycles, with a strong emphasis on performance and racing heritage.
- Revenue Contribution: In 2024, the Motorcycle segment accounted for over 96% of the group’s revenue in the first half, equating to approximately €1,804 million of the total €1,879 million revenue.
- Key Details:
- Unit Sales: 292,497 motorcycles sold in 2024, a 21.5% decline from 372,511 in 2023, reflecting reduced demand in core markets (USA and Europe).
- Market Share: Approximately 11% in Europe, the US, and China.
- Product Range: Includes premium off-road motorcycles (e.g., KTM EXC-F, Husqvarna TE 300), road motorcycles (e.g., KTM 390 DUKE, Husqvarna Svartpilen 801), and specialized vehicles like the KTM X-BOW.
- Production: Primary production in Mattighofen, Austria (148,934 units in 2024), with additional facilities through joint ventures in India (Bajaj Auto, ~120,000 units) and China (CFMOTO, ~38,000 units).
- Racing Success: Over 510 world championship titles, including 12 riders’ championships and 8 constructors’ championships in 2024 across classes like FIM Moto3, EnduroGP, and AMA Supercross.
- Strategic Partnerships: Collaborations with Bajaj Auto for production and distribution in India and Asia, and CFMOTO for production and distribution in China.
2. Bicycle Segment (Discontinued in 2025)
- Description: The Bicycle segment included e-bicycles and traditional bicycles under the Husqvarna, GASGAS, and Felt brands. The segment faced challenges due to market oversaturation post-COVID, high inventory levels, and reduced consumer demand due to increased living costs.
- Revenue Contribution: Estimated at less than 4% of total revenue in 2024, approximately €75 million, based on the significant dominance of the Motorcycle segment.
- Key Details:
- Unit Sales: 106,311 units sold in 2024 (including 66,880 e-bicycles and 39,431 traditional bicycles), a 32% decline from 155,859 units in 2023.
- Brand Performance: Despite overall segment decline, core brands showed growth: Husqvarna E-Bicycles (+104%), GASGAS (+227%), and Felt (+68%).
- Regional Breakdown: 46% of sales in the DACH region (Germany, Austria, Switzerland), 25% in the rest of Europe, and 30% in the rest of the world.
- Challenges: Market overheating during the COVID-19 pandemic led to high inventories and price pressure, compounded by reduced purchasing power in Europe.
- Strategic Decision: The group announced a complete withdrawal from the bicycle business in 2025 to focus on the high-margin Motorcycle segment.
Revenue Breakup (2024):
- Motorcycle Segment: ~96% (€1,804 million)
- Bicycle Segment: ~4% (€75 million)
Products and Services Offered
PIERER Mobility AG specializes in premium motorcycles, high-performance components, and specialized vehicles, with a legacy of racing excellence and innovation. Below is a comprehensive list of products and services offered, with detailed descriptions.
1. Motorcycles
- KTM Motorcycles:
- KTM 390 DUKE: A new-generation A2 entry-level motorcycle with a new engine and chassis, setting a benchmark for power-to-weight ratio in its class. Part of KTM’s Naked Bike segment, emphasizing high performance and aggressive design.
- KTM 1390 SUPER DUKE R EVO: Features an improved engine with the innovative CAMSHIFT system for enhanced power and torque control, representing KTM’s premium Naked Bike offering.
- KTM 250 EXC-F CHAMPION EDITION: A replica of the bike used by Josep Garcia to win the 2024 EnduroGP World Championship, designed for competition-oriented customers.
- KTM 85 SX: A new-generation model with improved frame, bodywork, ergonomics, and engine performance, targeted at young motocross racers in the 85cc class.
- Husqvarna Motorcycles:
- Husqvarna TE 300 Heritage: The best-selling off-road model, featuring a retro blue design inspired by the 1980s, celebrating Husqvarna’s racing heritage.
- Husqvarna EE 5: A new-generation electric junior motorcycle with integrated water cooling for 30% more ride time, designed to compete with combustion models in junior competitions.
- Husqvarna Svartpilen 801 and Vitpilen 801: Premium road motorcycles with engines sourced from the CFMOTO joint venture, blending style and performance.
- GASGAS Motorcycles:
- GASGAS EC 300 GP: A competition-oriented enduro model celebrating GASGAS’s racing heritage, designed for high performance in off-road conditions.
- GASGAS MX Models: High-performance motocross bikes, with riders like J. Prado securing the 2024 FIM MXGP championship.
- CFMOTO Motorcycles (Joint Venture):
- Models like the 450, 800, and 950, produced in China for local and global distribution, alongside KTMR2R-branded motorcycles (790 models) for the Chinese market.
- MV Agusta Motorcycles (Divested in 2024):
- Premium road motorcycles produced in Varese, Italy (~3,000 units in 2024), with the stake sold as part of restructuring efforts.
2. High-Performance Components (WP Brand)
- WP Suspension: High-performance suspension components for KTM, Husqvarna, and GASGAS motorcycles, rooted in the legacy of founder Wim Peters. These components are integral to the group’s racing success and premium product offerings.
3. Specialized Vehicles
- KTM X-BOW: A high-performance sports car designed for track and street use, embodying KTM’s “READY TO RACE” philosophy with lightweight construction and aggressive design.
4. E-Bicycles and Bicycles (Discontinued in 2025)
- Husqvarna E-Bicycles: Premium electric bicycles with a 104% sales increase in 2024, designed for urban and off-road use.
- GASGAS E-Bicycles: High-performance e-bikes with a 227% sales increase in 2024, targeting adventure enthusiasts.
- Felt Bicycles: Traditional bicycles with a 68% sales increase in 2024, focusing on premium design and performance.
- Note: The bicycle business, including these brands, will be discontinued in 2025 due to market challenges and a strategic focus on motorcycles.
5. Parts, Garments, and Accessories (PG&A)
- Description: A range of aftermarket parts, racing gear, and accessories for KTM, Husqvarna, and GASGAS motorcycles, enhancing customization and performance.
- Significance: PG&A contributes to revenue through royalties and direct sales, particularly in markets served by Bajaj Auto and CFMOTO.
6. Motorsport and Racing Services
- Factory Racing: Support for professional racing teams across disciplines like FIM Moto3, EnduroGP, MXGP, Supercross, and Flattrack, with 12 riders’ championships and 8 constructors’ championships in 2024.
- Event Participation: Sponsorship and technical support for events like the Dakar Rally, where KTM rider Daniel Sanders competed in 2025.
Company History
PIERER Mobility AG’s journey reflects a blend of innovation, resilience, and strategic growth, evolving from a small metalworking shop to a global leader in premium motorcycles.
- 1934: Hans Trunkenpolz founds a metalworking and auto repair shop in Mattighofen, Austria, laying the foundation for KTM.
- 1953: KTM begins industrial production of motorcycles, marking its entry into the two-wheeler industry.
- 1984: Heinz Kinigadner becomes the first Austrian to win the Motocross World Championship on a KTM motorcycle, establishing the brand’s racing pedigree.
- 1992: Stefan Pierer, through his Cross Industries Group (now PIERER Mobility AG), acquires the bankrupt KTM motorcycle business, initiating a turnaround.
- 1994: KTM introduces its first street motorcycle, the 620 DUKE, expanding beyond off-road models.
- 2001: KTM secures its first Dakar Rally victory, reinforcing its off-road dominance.
- 2007: Partnership with Bajaj Auto (India) begins, with Bajaj acquiring a 14.5% stake in KTM Power Sports AG and launching KTM in India.
- 2011: Strategic partnership with CFMOTO (China) starts, focusing on import and distribution in China, later evolving into a joint venture.
- 2014: Acquisition and relaunch of Husqvarna Motorcycles, merging it with Husaberg to strengthen the premium brand portfolio.
- 2016: KTM debuts in MotoGP, marking its entry into premier road racing. PIERER Mobility AG lists on the Swiss Stock Exchange.
- 2018: Shares are listed on the Vienna Stock Exchange, enhancing capital market access.
- 2020: GASGAS joins the PIERER Mobility Group, expanding the brand portfolio. KTM achieves its first MotoGP victory.
- 2021: Bajaj swaps its shares in KTM Power Sports AG for a 49.9% stake in Pierer Bajaj AG, which holds 75% of PIERER Mobility AG.
- 2023: CFMOTO increases its stake in PIERER Mobility AG to 2.0%, deepening the partnership.
- 2024: The company faces significant challenges, including a 29.4% revenue drop, negative EBITDA, and restructuring proceedings for KTM AG. Production is halted from December 2024 to March 2025, the MV Agusta stake is sold, and the bicycle business is slated for discontinuation in 2025.
- 2025: Gottfried Neumeister assumes the CEO role on January 23, with Stefan Pierer transitioning to Co-CEO to support restructuring. The restructuring plan for KTM AG is approved, securing €800 million in financing with Bajaj Auto’s support.
Brands
PIERER Mobility AG unites a portfolio of premium brands, each with distinct identities and market positioning. Below is a detailed list of the core brands and their characteristics.
1. KTM
- Description: KTM (Kronreif-Trunkenpolz-Mattighofen) is the flagship brand, synonymous with high-performance off-road and road motorcycles. Known for its “READY TO RACE” ethos, KTM leads in off-road motorcycles and is a top player in premium road motorcycles.
- Product Range: Includes models like the KTM 390 DUKE, 1390 SUPER DUKE R EVO, 250 EXC-F Champion Edition, and 85 SX, spanning motocross, enduro, and naked bike segments.
- Racing Heritage: Over 510 world championship titles, including 2024 titles in FIM Moto3, EnduroGP, and AMA Supercross.
- Market Presence: Global distribution through own networks and partners like Bajaj Auto and CFMOTO.
2. Husqvarna Motorcycles
- Description: Acquired in 2014 and relaunched after merging with Husaberg, Husqvarna is a premium brand focusing on off-road and road motorcycles with a heritage-inspired design.
- Product Range: Includes the TE 300 Heritage (best-selling off-road model), EE 5 (electric junior bike), and Svartpilen/Vitpilen 801 (road motorcycles).
- Racing Success: 2024 championships in FIM SuperEnduro, MX2, and AMA Supercross 250 West.
3. GASGAS
- Description: Joined the group in 2020, GASGAS focuses on off-road motorcycles with a vibrant, competition-oriented identity.
- Product Range: Includes the EC 300 GP (enduro) and MX models for motocross, emphasizing racing performance.
- Racing Success: 2024 championships in FIM MXGP, Enduro2, and Flattrack.
4. WP Suspension
- Description: Named after founder Wim Peters, WP produces high-performance suspension components integral to KTM, Husqvarna, and GASGAS motorcycles.
- Significance: Enhances the group’s racing and premium product offerings with advanced technology.
5. KTM X-BOW
- Description: A high-performance sports car brand, offering lightweight, track-focused vehicles with aggressive design.
- Significance: Extends PIERER Mobility’s premium portfolio beyond two-wheelers.
6. Bicycle Brands (Discontinued in 2025)
- Husqvarna E-Bicycles: Premium e-bikes with a 104% sales increase in 2024.
- GASGAS E-Bicycles: Performance-oriented e-bikes with a 227% sales increase in 2024.
- Felt Bicycles: High-quality traditional bicycles with a 68% sales increase in 2024.
Geographical Presence
PIERER Mobility AG has a robust global presence, with production facilities, joint ventures, and sales networks across key regions. Below is a detailed breakdown of its geographical operations and revenue distribution.
Production Facilities
- Austria, Mattighofen (HQ): Main production site, producing ~150,000 motorcycle units in 2024. Focuses on premium off-road and road motorcycles.
- Italy, Varese (MV Agusta, Divested in 2024): Produced ~3,000 units before the stake sale.
- Spain, Terrassa (GASGAS): Produced ~6,000 units in 2024, focusing on GASGAS motorcycles.
- China, Hangzhou (CFMOTO Joint Venture): Produced ~38,000 units in 2024, including KTM, KTMR2R, and CFMOTO models.
- India, Pune (Bajaj Auto): Produced ~120,000 KTM and Husqvarna motorcycles (125cc–390cc) in 2024.
Sales Distribution
- DACH Region (Germany, Austria, Switzerland): 46% of bicycle sales, significant motorcycle sales (exact percentage not specified).
- Rest of Europe: 25% of bicycle sales, key motorcycle market alongside the US and China.
- Rest of World: 30% of bicycle sales, includes Asia (via Bajaj Auto) and other markets.
Revenue Breakup by Region (Estimated for 2024):
- Europe (including DACH): ~50% (€940 million), driven by strong motorcycle demand and historical market strength.
- North America (USA): ~30% (€564 million), a key market despite reduced demand in 2024.
- Asia (India, China, others): ~15% (€282 million), supported by Bajaj Auto and CFMOTO partnerships.
- Rest of World: ~5% (€93 million), including emerging markets.
Financial Performance
Below are the consolidated financial statements for PIERER Mobility AG for 2024, presented in tables as extracted from the provided data.
Consolidated Income Statement (2024)
| Metric | 2020 (€m) | 2021 (€m) | 2022 (€m) | 2023 (€m) | 2024 (€m) | Δ 2024/2023 |
|---|---|---|---|---|---|---|
| Revenue | 1,530 | 2,042 | 2,437 | 2,661 | 1,879 | -29.4% |
| EBITDA | 234 | 332 | 381 | 324 | -481 | >-100.0% |
| EBITDA Margin | 15.3% | 16.3% | 15.6% | 12.2% | -25.6% | -37.8 pp |
| EBIT | 107 | 194 | 235 | 160 | -1,184 | >-100.0% |
| EBIT Margin | 7.0% | 9.5% | 9.7% | 6.0% | -63.0% | -69.0 pp |
| Result for the Period | 69 | 143 | 171 | 76 | -1,080 | >-100.0% |
| Earnings per Share (€) | 1.56 | 3.34 | 2.37 | 2.37 | -29.30 | >-100.0% |
Consolidated Balance Sheet (2024)
| Metric | 2020 (€m) | 2021 (€m) | 2022 (€m) | 2023 (€m) | 2024 (€m) | Δ 2024/2023 |
|---|---|---|---|---|---|---|
| Balance Sheet Total | 1,686 | 2,034 | 2,551 | 2,963 | 2,966 | -18.9% |
| Equity | 654 | 766 | 914 | 909 | -194 | >-100.0% |
| Equity Ratio | 38.8% | 37.6% | 35.8% | 30.8% | -8.1% | -38.9 pp |
| Working Capital Employed | 182 | 161 | 167 | 531 | 525 | -1.1% |
| Net Debt | 312 | 190 | 257 | 76 | 1,643 | >100.0% |
| Gearing | 47.8% | 24.8% | 28.1% | 85.3% | 847.9% | 762.8 pp |
Consolidated Cash Flow Statement (2024)
| Metric | 2020 (€m) | 2021 (€m) | 2022 (€m) | 2023 (€m) | 2024 (€m) | Δ 2024/2023 |
|---|---|---|---|---|---|---|
| Cash Flow from Operating Activities | 313 | 367 | 280 | -111 | -436 | >-100.0% |
| Cash Flow from Investing Activities | -147 | -195 | -283 | -302 | -341 | -12.7% |
| Free Cash Flow | 166 | 172 | -2 | -413 | -776 | -88.0% |
| Cash Flow from Financing Activities | -105 | -28 | -291 | 399 | 695 | 74.2% |
| Capital Expenditures (CAPEX) | 150 | 178 | 268 | 284 | 233 | -18.0% |
| R&D Expenses to Revenue | 9.0% | 8.0% | 8.7% | 9.2% | 12.5% | 3.3 pp |
Non-Financial KPIs
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | Δ 2024/2023 |
|---|---|---|---|---|---|---|
| Employees (Headcount) | 4,586 | 5,249 | 6,088 | 6,184 | 5,310 | -14.1% |
| Share of Female Employees | 22.4% | 24.2% | 25.4% | 25.8% | 25.1% | -0.7 pp |
| Share of Employees in R&D | 17.6% | 19.6% | 19.4% | 21.1% | 22.1% | 1.0 pp |
| Unit Sales Motorcycles | 270,407 | 332,881 | 359,123 | 372,511 | 292,497 | -21.5% |
| Unit Sales E-Bicycles | 56,064 | 76,916 | 72,634 | 99,141 | 66,880 | -32.5% |
| Unit Sales Bicycles (Non-Electric) | 17,213 | 23,837 | 38,927 | 36,718 | 39,431 | -30.5% |
| Production Motorcycles (Units) | 265,321 | 323,931 | 381,823 | 365,330 | 298,143 | -22.6% |
| Production in Mattighofen | 140,252 | 178,992 | 222,041 | 217,160 | 148,934 | -32.3% |
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
PIERER Mobility AG operates through a network of subsidiaries and joint ventures, with KTM AG being the primary subsidiary. Below is a comprehensive list with details.
1. KTM AG
- Ownership: Wholly-owned subsidiary of PIERER Mobility AG.
- Description: The core operating entity, responsible for over 96% of group revenue in H1 2024. Manufactures and distributes KTM, Husqvarna, and GASGAS motorcycles, WP components, and KTM X-BOW vehicles.
- Key Details: Underwent restructuring proceedings in 2024, with €525 million in creditor quotas financed, supported by €800 million in total financing with Bajaj Auto. Main production in Mattighofen, Austria.
2. KTM Components GmbH
- Ownership: Wholly-owned subsidiary of KTM AG.
- Description: Supports KTM AG in component manufacturing and supply chain operations.
- Key Details: Included in the 2024 restructuring proceedings with KTM AG.
3. KTM Forschungs & Entwicklungs GmbH
- Ownership: Wholly-owned subsidiary of KTM AG.
- Description: Focuses on research and development for KTM’s motorcycle and component technologies.
- Key Details: Part of the 2024 restructuring, with €135 million in development costs capitalized and €102 million written off due to discontinued projects.
4. Zhejiang CFMOTO-KTMR2R Motorcycles Co., Ltd. (Joint Venture)
- Ownership: 49% held by KTM AG, 51% by CFMOTO.
- Description: A joint venture in Hangzhou, China, established in 2018 for producing and distributing KTM, KTMR2R, and CFMOTO motorcycles (450, 800, 950 models) and assembling off-road models for the Chinese market.
- Key Details: Produced ~38,000 units in 2024. Contributes to EBIT through at-equity earnings.
5. KTM Fahrrad GmbH
- Ownership: Not affiliated with PIERER Mobility AG under corporate law, but noted as a licensee for KTM-branded bicycles.
- Description: Manufactures and sells bicycles under the KTM brand, distinct from PIERER Mobility’s operations.
- Key Details: Not part of the group’s financials or operations, as clarified in the disclaimer.
Note on Divested Entities
- MV Agusta: Stake sold in 2024 as part of restructuring, previously produced ~3,000 units in Varese, Italy.
Physical Properties
PIERER Mobility AG operates several key facilities for production, R&D, and administration. Below is a detailed list of its physical properties.
1. Mattighofen, Austria (Headquarters and Main Production)
- Description: The primary production facility for KTM, Husqvarna, and GASGAS motorcycles, as well as WP components and KTM X-BOW vehicles.
- Capacity: Produced ~150,000 motorcycle units in 2024, down from 217,160 in 2023.
- Significance: Central hub for manufacturing, R&D, and administration, employing a significant portion of the group’s 5,310 employees.
2. Munderfing, Austria
- Description: Secondary facility supporting production and logistics, complementing Mattighofen.
- Significance: Key to maintaining regional employment and operational efficiency.
3. Terrassa, Spain (GASGAS)
- Description: Production facility for GASGAS motorcycles.
- Capacity: Produced ~6,000 units in 2024.
- Significance: Supports GASGAS’s off-road motorcycle production, enhancing brand-specific manufacturing.
4. Hangzhou, China (CFMOTO Joint Venture)
- Description: Joint venture facility with CFMOTO for producing KTM, KTMR2R, and CFMOTO motorcycles.
- Capacity: Produced ~38,000 units in 2024.
- Significance: Expands production and distribution in the Chinese market.
5. Pune, India (Bajaj Auto)
- Description: Bajaj Auto’s Chakan plant manufactures KTM and Husqvarna motorcycles (125cc–390cc).
- Capacity: Produced ~120,000 units in 2024.
- Significance: Key to serving Asian markets and global distribution, with over 1.2 million KTM motorcycles produced to date.
6. Wels, Austria (Corporate Office)
- Description: Headquarters for PIERER Mobility AG, handling corporate governance, investor relations, and compliance.
- Address: Edisonstraße 1, 4600 Wels, Austria.
Founders
PIERER Mobility AG’s origins trace back to the founders of KTM and its key brands, with additional influence from strategic leaders like Stefan Pierer.
1. Hans Trunkenpolz
- Role: Founder of KTM (Kronreif-Trunkenpolz-Mattighofen).
- Background: In 1934, Trunkenpolz established a metalworking and auto repair shop in Mattighofen, Austria, which evolved into KTM’s motorcycle manufacturing business by 1953.
- Contribution: Laid the foundation for KTM’s industrial production, focusing on quality and performance.
2. Wim Peters
- Role: Founder of WP Suspension.
- Background: Established WP Suspension, which became a cornerstone of PIERER Mobility’s high-performance component offerings.
- Contribution: Developed advanced suspension technologies integral to the group’s racing success.
3. Stefan Pierer (Modern Influence)
- Role: Founder of PIERER Mobility Group (originally Cross Industries Group) and current Co-CEO.
- Background: After graduating from Montan University of Leoben, Pierer began his career at HOVAL GmbH, later founding the PIERER Mobility Group in 1987. He acquired KTM in 1992 post-bankruptcy.
- Contribution: Transformed KTM into a global leader, expanded the brand portfolio (Husqvarna, GASGAS), and forged partnerships with Bajaj Auto and CFMOTO.
4. Lai Guogui (CFMOTO)
- Role: Founder of CFMOTO, a key joint venture partner.
- Background: Started a motorcycle spare parts workshop in Wenzhou, China, in 1989, later expanding into engine and motorcycle production.
- Contribution: Established CFMOTO as a significant partner, enabling PIERER Mobility’s expansion in China.
Board of Directors
PIERER Mobility AG’s Executive and Supervisory Boards oversee strategic and governance functions. Below is a detailed list of board members.
Executive Board
- Gottfried Neumeister (CEO)
- Background: Studied International Business Administration at the University of Vienna. Founded flyniki with Niki Lauda in 2003, later serving as Co-CEO of DO & CO Aktiengesellschaft (2021–2023).
- Role: Joined PIERER Mobility AG and KTM AG as a board member on September 1, 2024, and became CEO on January 23, 2025, leading the restructuring efforts.
- Stefan Pierer (Co-CEO)
- Background: Graduated from Montan University of Leoben (Business and Energy Management). Founded PIERER Mobility Group in 1987 and acquired KTM in 1992. Indirect sole shareholder and CEO of Pierer Industrie AG.
- Role: Served as a board member since 2011, transitioned to Co-CEO in March 2025 to support Neumeister during restructuring.
Supervisory Board
- Stephan Zöchling (Chairman)
- Born: 1972
- Appointed: January 27, 2025, until AGM 2029
- Committees: Audit Committee, Remuneration Committee (Chair), Committee for Compliance, Investor Relations, and Sustainability
- Rajiv Bajaj (Deputy Chairman)
- Born: 1966
- Appointed: Until AGM 2027
- Background: Managing Director and CEO of Bajaj Auto Ltd., Pune, India.
- Iris Filzwieser
- Born: 1971
- Appointed: Until AGM 2027
- Srinivasan Ravikumar
- Born: 1957
- Appointed: Until AGM 2027
- Background: Director of Bajaj Auto International Holdings B.V., Amsterdam, and Chief Business Development Officer at Bajaj Auto Ltd.
- Committees: Audit Committee (Chair)
- Michaela Friepess
- Born: 1972
- Appointed: Until AGM 2027
- Committees: Remuneration Committee, Committee for Compliance, Investor Relations, and Sustainability (Chair)
- Friedrich Roithner
- Born: 1963
- Appointed: Until AGM 2028
- Committees: Audit Committee
Shareholding Details
PIERER Mobility AG’s shareholding structure is centered around Pierer Bajaj AG, a joint holding company.
- Pierer Bajaj AG: Holds approximately 75% of PIERER Mobility AG.
- Pierer Industrie AG: 50.1% ownership in Pierer Bajaj AG, controlled by Stefan Pierer (indirect sole shareholder).
- Bajaj Auto International Holdings BV (BAIH BV): 49.9% ownership in Pierer Bajaj AG, a wholly-owned subsidiary of Bajaj Auto Ltd.
- CFMOTO: Holds a 2.0% stake in PIERER Mobility AG.
- Public Float: The remaining ~23% is publicly traded on the Swiss Stock Exchange and Vienna Stock Exchange.
Parent Company Details
PIERER Mobility AG is controlled by Pierer Bajaj AG, which holds a 75% stake. Pierer Bajaj AG is a joint holding company owned by:
- Pierer Industrie AG (50.1%), controlled by Stefan Pierer.
- Bajaj Auto International Holdings BV (49.9%), a subsidiary of Bajaj Auto Ltd., India.
No single entity holds a majority stake in Pierer Bajaj AG, making it a joint venture between Pierer and Bajaj interests.
Investment Details
PIERER Mobility AG has made strategic investments to expand its operations and brand portfolio.
- Husqvarna Motorcycles (2014):
- Details: Acquired and merged with Husaberg, relaunched as a premium motorcycle brand.
- Investment Type: Strategic acquisition to strengthen the group’s portfolio.
- GASGAS (2020):
- Details: Acquired to expand the off-road motorcycle portfolio.
- Investment Type: Strategic acquisition.
- MV Agusta (Divested in 2024):
- Details: Previously held a stake, producing ~3,000 units in Varese, Italy, before divestment as part of restructuring.
- Investment Type: Passive investment, sold to address liquidity needs.
- Zhejiang CFMOTO-KTMR2R Motorcycles Co., Ltd.:
- Details: 49% stake in a joint venture with CFMOTO, producing ~38,000 units in 2024.
- Investment Type: Strategic joint venture for production and distribution in China.
- Product Development (2024):
- Details: Invested €174.6 million in R&D, including €135 million in capitalized development costs, though €102 million was written off due to discontinued projects.
- Investment Type: Internal investment in innovation.
Future Investment Plans
PIERER Mobility AG’s future investment strategy focuses on stabilizing operations and enhancing its core Motorcycle segment post-restructuring. Key plans include:
- Restart of Production (March 2025): With €800 million in financing secured (including €525 million for creditor quotas), the company will resume production at Mattighofen and Munderfing, focusing on premium motorcycles.
- Focus on Motorcycle Segment: Discontinuing the bicycle business to allocate resources to high-margin off-road and road motorcycles, leveraging the KTM, Husqvarna, and GASGAS brands.
- Strengthening Global Partnerships: Continued collaboration with Bajaj Auto and CFMOTO to expand production and distribution in Asia, particularly India and China.
- R&D Investment: Sustained focus on innovation, with plans to develop new models and technologies, building on the €174.6 million invested in 2024.
- Cost Optimization: Implementing cost-saving measures, including staff reductions and production realignment, to improve profitability.
- Market Expansion: Targeting recovery in core markets (Europe, USA) and growth in emerging markets through strategic partnerships.
The company’s going concern forecast, critical to its restructuring plan, depends on macroeconomic stability and compliance with investor conditions. While material uncertainties exist, management remains optimistic about a successful recovery.
Conclusion
PIERER Mobility AG stands as a titan in the premium motorcycle industry, with a rich history, a portfolio of iconic brands, and a global presence bolstered by strategic partnerships. Despite a challenging 2024 marked by financial setbacks and restructuring, the company’s focus on innovation, racing excellence, and premium products positions it for a potential rebound. By exiting the bicycle business and concentrating on its core Motorcycle segment, PIERER Mobility AG aims to reclaim its trajectory as a global leader, supported by a robust leadership team and a clear vision for the future.
