Citing continued positive global demand for powered two-wheelers (motorcycles and e-bicycles), Pierer Mobility’s board of directors has raised its revenue forecast for the 2020 financial year from a previously increased estimate made in September. BDN financial editor Roger Willis reports.
For the full 12 months, turnover is now expected to exceed £1.37bn, about 6% higher than in 2019. The board says that, during the second half of 2020, it has largely made up for lost production and sales volume from the Covid-19 lockdown in the spring, thereby generating revenue of approximately £820m — roughly 17% higher than in the same period of the previous year.
However, although improving on September’s guesswork, a predicted annual operating profit of around £90m will be significantly lower than last year’s result.