Weak performance: KTM reduces the size of its board

The Upper Austrian two-wheeler manufacturer Pierer Mobility (formerly KTM) owned by the industrialist Stefan Pierer, which announced further job cuts after a slump in sales and a high loss in the first half of the year, is also falling short of expectations in the second half of the year and has therefore increased its sales and earnings forecast Repealed in 2024.

The board will be reduced from six to two people: Stefan Pierer (CEO) and Gottfried Neumeister (Co-CEO).

In the USA, sales figures fell by 6.3 percent between January and September; September was even the weakest month since the beginning of the year, with a decline of 14.6 percent. “A rapid recovery cannot therefore be assumed,” the company announced on Monday evening.

In Europe, registration data for the overall motorcycle market from January to September 2024 is at the previous year’s level due to increases in the low-price segment, but is weakening. In order to support dealers and suppliers, Pierer Mobility has taken on more debt.

The extraordinary need for devaluation will be higher than originally assumed. “A further review of non-cash value adjustments will also be carried out by the end of the year,” the statement says.