PIERER Mobility - Outstanding performance continues
PIERER Mobility’s performance during the pandemic has been exceptional, with proactive management control enabling the company to successfully expand market share as demand for its products has surged. The positive momentum in Q421 has led to another upgrade to FY21 guidance. We expect growth to continue in FY22 albeit moderating as booming motorcycle demand normalises. The rapid expansion of the e-bikes business and entry into the e-scooter market provide growing and complementary revenue streams. The now complete simplification of the Bajaj shareholding enhances FY22 EPS by a further 23%. Shareholder returns are significantly enhanced, which is reflected in our capped DCF valuation of the group, which currently stands at €116 per share.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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