Pierer Group partners with Maxcom
Pierer Mobility AG and Maxcom Ltd. decided in July 2021 to establish a 50:50 joint venture for e-bike manufacturing in Plovdiv, Bulgaria to expand the bicycle and e-bike production capacity.
The total level of investment is EUR 40 million. A state-of-the-art e-bike production facility will be built over an area of 130,000 m². Commissioning is scheduled for the second half of 2023. The annual production capacity is around 350,000 units. Pierer Mobility AG brings its entire vehicle development and production expertise to the joint venture. Maxcom Ltd. is one of the largest bicycle manufacturers in Eastern Europe and a member of the MAXEUROPE Group in Bulgaria. Maxcom is already a supplier of Pierer E-Bikes GmbH, mainly with bikes from the R RAYMON brands, but increasingly also from Husqvarna E-Bicycles. Further increase in revenue forecast for the 2021 fiscal year Due to the continued positive global demand for motorised two-wheelers (motorcycles and e-bicycles), the Executive Board of Pierer Mobility also announced in their latest fiscal report, that it is again raising the revenue guidance for the 2021 fiscal year published in April 2021. Despite the ongoing COVID-19 related supply chain challenges, the outlook remains positive and the Executive Board raises the revenue guidance for the 2021 fiscal year to EUR 1,900 million - EUR 2,000 million (previous 2021 revenue guidance: EUR 1,850 million - EUR 1,950 million). The forecast for the EBIT margin in the amount of 8 - 9% and the EBITDA margin > 15% remains unchanged.