HARD, Austria - Modular bike builder Simplon Fahrrad GmbH has successfully completed its restructuring process under self-administration. With the support of the previously announced new owner SOL Capital Management, Austria's second-largest bicycle manufacturer is now starting the upcoming cycling season in a stronger position.
MATTIGHOFEN, Austria - The financial struggle at the motorcycle division of Pierer Mobility AG could not take place without having an impact on the e-bike department. The company has now announced that its regional activities in South Africa, Germany and the UK will gradually be wound down in a controlled manner.
WELS, Austria - After motorcycle company KTM AG had to file an application for restructuring proceedings with self-administration at the end of November, its parent company Pierer Mobility AG commissioned Citigroup Global Markets Europe AG on 17 December to reorganise the ownership structure.
VIENNA, Austria - After a three-month restructuring process a new investor has secured the successful restart of Austrian custom-bike builder, Simplon. SOL Capital Management GmbH announced an undisclosed capital injection by one of its funds securing the future of the bike manufacturer.
WELS, Austria - Pierer Mobility AG, the owner of bicycle and e-bike brands Husqvarna, GasGas and Felt has announced that it will apply for debtor-in-possession restructuring proceedings for its motorcycle subsidiary KTM AG on Friday. KTM AG's financing requirements are "currently in the high three-digit million euro range."
WELS, Austria - The macro-economic conditions made two-wheeler giant Pierer Mobility AG already revise its forecast for the current financial year in October. Moreover they communicated a far-reaching restructuring program of its bicycle and e-bike sector. It now turns out that the liquidity requirement for its motorized two-wheeler business has a much bigger impact on the financial stability of the whole company.
WELS, Austria - As a result of the market circumstances for e-bikes, bicycles and motorbikes, Pierer Mobility will fall short of expectations in terms of revenue and earnings, as well as with regard to the reduction in working capital and net debt in the current financial year. Therefore, the company has revoked its guidance for the 2024 financial year.
VIENNA, Austria - Children and youth bike manufacturer Woom has appointed Bernd Hake as CEO. He succeeds Paul Fattinger, who is leaving by mutual agreement after three years in charge. According to the company, the change in management is a further step in its development from a start-up to an established international brand.
HARD, Austria - Business has not always gone smoothly at Austria's second largest bicycle manufacturer, Simplon Fahrrad GmbH. How big these problems were, became public when the shareholders replaced the management at the end of 2023. This year's industry-wide double-digit sales drop left a real skid mark on Simplon's revenue, forcing them to apply for a Chapter 11 status this week to support the ongoing restructuring process.
WELS, Austria - According to Pierer Mobility AG volatile and difficult economic conditions led to a negative first half 2024 result. The company also harmed itself with some short-term strategy changes after entering the bicycle and e-bike business. Now they have to pay the bill. In other words: drastic measures are being taken.
LONDON, England - Austrian kid's bike brand, Woom has now entered the lucrative UK market. Having had success in 30 other countries and sales of over 1 million units, Woom bikes will be distributed by UK trade partners online and in-stores.
REGAU, Austria - The restructuring plan of the young bicycle and e-bike contract manufacturer WSF Bicycle Technology GmbH, which slipped into insolvency on April 24, has failed. Despite big ambitions, all assets are now being liquidated, the insolvency administrator Dr. Klaus Schiller confirmed to Bike Europe.
WELS, Austria - As the momentum in Pierer Mobility AG's core motorbike markets in the US and Europe has slowed significantly in 2024, the Austrian two-wheeler giant announced the implementation of a comprehensive package of measures. It also includes a realignment of the bicycle division. Compared to 2023, the Austrians are now assuming a double-digit motorbike and e-bike sales drop.
ZEIST, The Netherlands - Undeniably European e-bike sales took a step back last year. In 7 European countries which have already reported their market statistics for 2023, the total volume decreased by 8%, from 4,555,264 units in 2022 to 4,178713 last year.
WELS, Austria - According to stock-listed Pierer Mobility AG's e-bike subsidiary Pierer New Mobility (PNM) the developments in the bicycle market prompted them to implement a strategic realignment in 2023 already. Now PNM-Germany MD and Sales Manager DACH Bernd Lesch left the company at the end of April at his own request, the company has taken the chance for a reorganization of the management with an in-house solution.
Subscribers onlyVIENNA, Austria - Even though the Austrian 2023 bicycle market recorded a double-digit drop in both volume and value sales compared to the previous year, there are several positives to point out. Sales topped €1 billion for the third consecutive year in a row and e-bikes now account for three quarters of the market value. Leasing and investments in cycling infrastructure are also positively influencing the market.
REGAU, Austria - Contract manufacturer WSF Bicycle Technology GmbH applied for insolvency on 24 April. The challenging market situation in the bicycle industry has resulted in financial problems for yet another company.
WELS, Austria - Pierer Mobility Group warns for more consolidations and job losses in its bicycle and e-bike division in the year ahead in its preliminary financial figures for 2023. The company did report a 9% increase in consolidated sales to a new record of almost €2.7 billion in 2023, but that increase was fully attributed to its motorcycle business.
