PIERER Mobility's performance during the pandemic has been exceptional, with proactive management control enabling the company to successfully expand market share as demand for its products has surged. The positive momentum in Q421 has led to another upgrade to FY21 guidance. We expect growth to continue in FY22 albeit moderating as booming motorcycle demand normalises. The rapid expansion of the e-bikes business and entry into the e-scooter market provide growing and complementary revenue streams. The now complete simplification of the Bajaj shareholding enhances FY22 EPS by a further 23%. Shareholder returns are significantly enhanced, which is reflected in our capped DCF valuation of the group, which currently stands at €116 per share.Den vollständigen Artikel lesen ...