Profit following taxes fell from 175.7 to 89 million euros, as the company announced on Tuesday. The EBIT margin fell from 8.3 to 5.8 percent. The number of employees increased from 10,917 to 11,040.
The free cash flow was minus 424.9 million euros last year, following minus 62.7 million in 2022. Investments fell from 389.4 to 359.7 million euros, the equity ratio was 28.6 percent (2022 : 31.6 percent).
Pierer Industrie is the umbrella company of Stefan Pierer’s empire, including Pankl Racing and Pierer Mobility (KTM. Husqvarna, GasGas,…).
Millions in back taxes
Recently, the bad news hasn’t stopped for the series winner of the Dakar Rally. According to research by “‘Der Standard” and ORF, Stefan Pierer had to pay millions of euros in back taxes relating to life insurance in Liechtenstein. At the end of last year it was announced that up to 300 jobs would be cut in Austria this year. In March it was announced that 120 research jobs would be added.
Also read: Flood of rejections: Pierer, Wolf and Blümel do not come to the Cofag committee
