KTM crisis deepens with €1.28b loss plus more layoffs, stalled production and cash countdown looming

KTM’s parent firm Pierer Mobility has posted brutal preliminary results for 2024, revealing a €1.28billion loss before tax and plunging sales as the company scrambles to restructure its business.

Equity has gone deep into the red at minus €199 million while revenue nosedived by 29.4% to €1.88bn from €2.66bn the previous year, with net debt ballooning to €1.64bn.

• Related: Stefan Pierer steps back from CEO role at KTM having been in charge since 1992

The Pierer group sold 292,497 motorcycles last year, down 21% from 372,511 in 2023. Over 60,000 of those were sold via Indian partner Bajaj, and the European market remained the biggest chunk at 38% of total sales. North America meanwhile made up 24%, with India and Indonesia sharing 21%.

The figures come as Pierer battles to finalise a circa €600m investor lifeline that is crucial to its survival.

Production at KTM’s Mattighofen plant had been halted since December 2024, only restarting in mid-March thanks to a €150m cash injection from Bajaj. All four lines are due back online by summer if funding comes through. Inventory levels were slashed by 18% last year through targeted production cut backs.

Headcount also took a hit. As of December 2024, staff numbers were down by 874 compared to the previous year, with another 750 cut in early 2025 and 220 more expected to go following the planned sale of MV Agusta. Overall, more than 1850 jobs have been lost.

The company also confirmed it will exit the bicycle market entirely in 2025, selling off Husqvarna and GasGas e-bike stock and reviewing its 70% stake in the Felt brand.