WELS, Austria (BRAIN) — Pierer Mobility AG, the owner of Felt Bicycle and e-bike brands including Husqvarna and GASGAS, announced first-half revenues of 1.154 billion euros ($1.26 billion), up 20.2% from the first half last year.
Its unit sales of e-bikes were up 16% in the half, to 40,401. Unit sales of non-powered bicycles were up 86.9%, to 31,000 bikes worldwide. Pierer, which bought Felt Bicycles 2021, sold 9,184 bicycles in North America in the first half this year, up 33% from the same period last year.
Global bike and e-bike sales revenue was 107.5 million euros, up 37% from the first half of 2022. EBITDA for the bicycle business was a loss of 14.2 million euros, compared to a loss of 1.5 million euros in the first half of 2022.
“The amount of storage space at the dealers is tight owing to the big changes and challenges being seen throughout the bicycle market and this is leading to more discounts,” the company said of its bicycle business.
Company-wide, Pierer’s profit for the half year was 53.038 million euros, down from 68.183 million euros in the first half last year.
Pierer’s motorcycle brands are KTM, Husqvarna, GASGAS and WP, while its bike and e-bike brands are Felt, Husqvarna, GASGAS, and R Raymon. It also took over the Swedish e-cargo brand Johansson from a related company in April. In 2022 it acquired the Syntace and Liteville brands.
The R Raymon brand accounted for 62% of its first-half non-powered bicycle business, with the remainder from Felt. In e-bikes, R Raymon was 49% of sales, Husqvarna was 38.3% and GASGAS was 9.5%.
Husqvarna and GASGAS e-bikes are now sold in the U.S., through both IBDs and motorcycle retailers. R Raymon bikes are not sold in the U.S.
Pierer's stock is traded on both the Zurich and the Vienna stock exchanges.
