Felt is the next brand to leave Pierer Mobility after the sale of the R Raymon brand (which also offers electric bicycles) to Susanne and Felice Puello (PEXCO GmbH).
Source: bike-eu.com
After four years of distribution agreements with Pierer New Mobility, R Raymon is back in the hands of the brand's founders, Susanne and Felix Puello. In fact, from October 1st, the two entrepreneurs and their team will take over the leadership of the brand, which will thus begin a new path through the recently established company R Raymon Bicycles GmbH, based in Schweinfurt, Germany. Pierer New Mobility and R Raymon Bicycles GmbH have reached an agreement to make a complete transition, up to the full transfer of all operations to the new facility.

ABANDONMENT OF FELT
The US bicycle brand Felt Bicycles was only acquired by Pierer Mobility at the end of 2021. Its inclusion in the product portfolio gave Pierer Mobility access to the North American market. Felt will be taken over by a consortium led by Florian Burguet. Since June 2022 he has held the role of CSO New Mobility of KTM AG. Since 2023, Burguet has been a member of the general management of Pierer Mobility AG. The sale is expected to close in the first half of 2024. Florian Burguet will therefore also leave the board of directors of Pierer Mobility AG at the end of December 2023.

Financial reorganization
In the future, Pierer Mobility AG's e-bike activities will be promoted and expanded under the Husqvarna and GasGas brands. According to a company statement, Pierer wants to further strengthen the electric mobility sector. The company's sector reporting will therefore also be restructured starting from the financial year 2024. In the future, the listed company will report the mobility segments "motorcycles" to the market. and “electric mobility”. The "e-mobility" category will include, in addition to e-bikes, all electrically powered two-wheeled vehicles such as electric motorcycles, mini electrics and e-scooters. Decisions in this regard will be presented to the Supervisory Board at the next meeting.
Layoffs in Austria and relocation of production
Due to the adverse economic conditions in Europe, Pierer Mobility has also decided to transfer part of the production for individual mid-range models and some research and development activities to strategic partner Bajaj Auto, India, and CFMoto, China. The company intends to exploit cost advantages in these regions and accelerate development and industrialization processes. This decision will result in a staff reduction of 300 people at Pierer Mobility's Austrian locations in 2024.
Adjustment of forecasts for 2023
Previous forecasts were revised downwards by Pierer Industries. The Executive Committee now expects sales growth for 2023 to end “between 7% and 9% with an EBIT margin between 5% and 7%.” In an earlier outlook for 2023, Pierer Mobility still forecast sales growth of between 6% and 10% with an EBIT margin of 8% to 10%.

Further budget cuts and prospects for 2024
Pierer Mobility AG expects the global economic environment to remain challenging in 2024. The Austrian company therefore calls 2024 a year of consolidation that will be “used to strengthen the core business”. To ensure the Group's profitability, management will implement cost reduction measures in the double-digit million range in the financial year 2024. The Board expects sales to remain about the same and an EBIT margin of 5-7%.
Majority share of MV Agusta Motor
Pierer Mobility also announced that it has accepted a call option to acquire a majority stake in Italian motorcycle manufacturer MV Agusta Motor via its subsidiary KTM. They have already acquired a 25,1% stake in MV Agusta Motor in November 2022 and took over its supply chain and purchasing in October 2023. The call option will be exercised in spring 2026 based on the annual balance sheet as of 31 December 2025.
