PIERER Mobility - Happy biking holidays
Global demand for powered two wheelers (motorcycles and e-bikes) has remained strong throughout H220. Production has been increased to meet demand and the volume lost in H120 due to pandemic-induced closures has been recovered. As a result, FY20 sales guidance has been raised again to €1.5bn with operational gearing driving FY20 EBIT of c €100m, 31% above our previous estimate. The 6.6% margin is above the guidance range of 4–6%. Management expects the supportive trends to continue in FY21 and all the improvement is accompanied by better-than-expected cash flows.KTM Industries AG. CROSS Industries AG is an Austria-based company that automotive company that focuses on niche markets in the vehicle, high performance and lightweight areas. It operates through three segments: KTM, PANKL and WP. In the KTM segment, the Company focuses on the development, production and distribution of motorized leisure devices (power sports), primarily under the brands KTM and Husqvarna. The PANKL segment specializes in the production of lightweight components for niche markets, such as the international racing industry, as well as the international luxury and high performance street vehicle industry. The WP segment develops produces and distributes suspension elements, frames, radiators and exhaust systems.
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