
The man who rebuilt KTM, Stefan Pierer, is handing over the reins of his cash-strapped company to businessman Gottfried Neumeister, as several investors have stepped forward with bids to inject cash. This seems to be to Pierer and KTM as a motorcycle manufacturer rather than its R&D centre or racing teams.
It’s thought two offers are from Far Eastern motorcycle manufacturers, India’s Bajaj and China’s CF Moto which already manufactures some bikes and parts for KTM. Another potential invester is thought to be FountainVest, an investment first in the USA and Asia.
Amid fallng bike sales and over-investment in other brands like MV Agusta, KTM has laid off around 1800 workers and has massive stocks of unsold bikes. Revenues are down 29% and sales of bikes to dealers 21%.
KTM entered a 90-day ‘self-administration’ process on November 29 with total liabilities estimated at around €2.9 billion and around 2500 creditors, across three separate insolvencies.
New Ferrari F1 driver Lewis Hamilton is said to be interested in investing in the MotoGP team, but this is not a huge part of the debt.
The news was revealed by Pierer Mobility last night and reads:
Stefan Pierer, CEO of KTM AG for many years, is handing over the management of the company to his Co-CEO Gottfried Neumeister. With this step, one of the world’s leading motorcycle manufacturers is strategically positioning itself for the future. Pierer will continue to accompany the reorganization process as a member of the Executive Board with full commitment and will remain part of the KTM family.
Since taking over KTM in 1992, Stefan Pierer has built the company from a regional motorcycle manufacturer with 160 employees into a global brand with legendary status in the motorcycle industry with 5000 employees. Today, for millions of fans, KTM stands for innovation, performance and a spirit of adventure like no other brand – values that will remain in focus under the new management.
“For me, KTM was always more than just a company – it was and is a passion, a mission and a family. The decision to hand over the helm was not an easy one. I am deeply convinced that Gottfried Neumeister, with his strategic foresight and commitment, is the right choice to lead KTM into the future,” says Stefan Pierer.
Gottfried Neumeister brings extensive experience in corporate management, including many years as a board member of flyniki and DO &CO. He emphasizes: “Stefan Pierer has created a unique company that reflects the passion and pioneering spirit of all employees. I see it as my task to preserve this legacy and at the same time to break new ground. KTM stands for courage, innovation and passion – values that we will continue to live by and carry into the future. Together with our team, we will continue to strengthen KTM and set new standards to build the best motorcycles in the world.”
With the new management structure, KTM is ideally equipped to master the challenges of the future and continue its success story. The focus remains on innovation, performance and the continuous development of a motorcycle brand that inspires millions of fans worldwide. KTM remains focused on redefining the limits of what is possible on two wheels. The company will continue on its path with the same determination that has made it a global icon under the leadership of Stefan Pierer.
About Gottfried Neumeister
After completing his studies in international business administration at the University of Vienna, Gottfried Neumeister worked as a consultant at Siemens AG Austria. In 2003, he founded flyniki together with Niki Lauda and was responsible for the successful development of the aviation business (until its sale to Air Berlin). In 2012, Mr. Neumeister moved to DO &CO Aktiengesellschaft, where he held various positions on the Management Board, most recently (2021-2023) as Co-CEO. Gottfried Neumeister has been Co-CEO of PIERER Mobility AG and KTM AG since September 1, 2024. He has also been a member of the Executive Board of Pierer Industrie AG since January 1, 2025.
PIERER Mobility AG: Preliminary key figures for the 2024 financial year
Revenue: around EUR 1.9 billion (-29%)
Sales of motorcycles (to dealers): 292,497 motorcycles (-21%)
Negative EBITDA due to operating losses and allowances
Sustained strong end customer demand (retail)
Stock reduction in full swing
Stefan Pierer hands over CEO role to Gottfried Neumeister
Preliminary key financial figures 2024
From today’s perspective, the PIERER Mobility Group expects consolidated revenue of around EUR 1.9 billion in 2024 (previous year: around EUR 2.7 billion). This corresponds to a decrease of around 29% compared to the 2023 financial year.
Due to a significant reduction in operating performance and one-off restructuring expenses, the Executive Board anticipates a negative EBITDA (result from operating activities before depreciation and amortization) of around EUR 300 million for the 2024 financial year (before necessary allowances as part of the restructuring process). Expected impairments on intangible assets and goodwill will have an additional negative impact on EBIT (earnings before interest and taxes). Free cash flow will amount to a high negative triple-digit million figure. As a result, net debt is also expected to increase further in the second half of 2024.
Far-reaching restructuring measures
The 2024 financial year was characterized by far-reaching restructuring measures. To date, a total of more than 1,800 employees have been cut across the Group. In addition, production output was deliberately curtailed to reduce the number of motorcycles held by dealers and importers.
By reducing the production volume to around 230,000 motorcycles (-26% compared to 2023), global inventories were relieved by around 40,000 units (-18%). This represents an important first step in the restructuring plan.
Declining sales (to dealers), continued strong end customer demand (retail)
In the 2024 financial year, the Group sold 292,497 motorcycles (of which around 60,000 were sold via its Indian partner Bajaj), around 21% fewer than in the previous year (372,511 motorcycles). Around 110,000 motorcycles were sold on the European market. Europe thus accounted for 38% of Group sales; North America accounted for 24%, India and Indonesia (via partner Bajaj) for 21% and the remaining sales countries for 17%.
On a positive note, demand from consumers was strong. Distributors and dealers sold around 268,000 motorcycles to retail customers, the same level as last year. This demonstrates the continued high level of trust that dealers and consumers place in the company. Recent racing successes have confirmed this confidence. With three consecutive victories in the Enduro World Championship, two Supercross season openers and the first Dakar Rally win across all major motorcycle categories, the 2025 motorsport season has got off to a successful start.
In the Bicycle segment, the Group sold 106,311 electric bikes and bicycles (previous year: 155,859), which corresponds to a decline of around 32%. This decline in sales resulted from the sale of the R Raymon brand.
Financial calendar
Due to the ongoing reorganization proceedings of the main Group company KTM AG, PIERER Mobility AG will probably publish its annual financial report 2024 in the second half of April 2025. Accordingly, the 28th Annual General Meeting and all related dates will also be postponed. As soon as the exact dates are available, they will be updated on the website https://www.pierermobility.com/en/investor-relations/financial-calendar.
PIERER Mobility AG: Several financing offers received from investors
Until today PIERER Mobility AG has received several offers from investors as part of the investor process structured by Citigroup Global Markets Europe AG. With these offers, investors have declared that they will make financial resources available to the PIERER Group. The funds will either be made available to PIERER Mobility AG for onward transfer to subsidiaries, in particular to KTM AG, or will flow directly to KTM AG or its subsidiaries.
Based on the available offers, financing at the level of PIERER Mobility AG supplemented by debt instruments at the level of KTM AG or its subsidiaries is also a possibility.
With the financial resources offered, the quota from the restructuring plans of KTM AG and its insolvent subsidiaries can be financed at least to the statutory extent of 30 per cent.
The company will enter into discussions with the investors who have submitted offers in order to define the detailed structure of the investments.