Bajaj Auto Limited has disclosed the preliminary unaudited figures for its step-down subsidiary Bajaj Mobility AG for the 2025 financial year, revealing a remarkable financial turnaround despite facing revenue headwinds. The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the information received on 29 January 2026.
Financial Performance Overview
Bajaj Mobility AG, formerly known as PIERER Mobility AG, reported consolidated revenue of EUR 1,009 million for 2025, representing a 46.30% decline compared to the previous year. This significant decrease was primarily attributed to the restructuring phase undertaken during the first half of 2025. Despite the revenue challenges, the company achieved a substantial restructuring gain of EUR 1,193 million following the successful completion of restructuring proceedings for KTM AG, KTM Components GmbH, and KTM Forschungs- & Entwicklungs GmbH.
| Financial Metrics (EUR Million): |
2024 |
2025 |
Change (%) |
| Revenue: |
1,879 |
1,009 |
-46.30% |
| EBITDA: |
-481 |
874 |
N/A |
| EBIT: |
-1,184 |
748 |
N/A |
| Net Profit: |
-1,080 |
590 |
N/A |
| Free Cash Flow: |
-776 |
-34 |
N/A |
Earnings and Profitability Transformation
The earnings performance showed dramatic improvement across all key metrics. EBITDA surged to EUR 874 million from negative EUR 481 million in 2024, with the EBITDA margin expanding to 86.70% compared to negative 25.60% in the previous year. Similarly, EBIT improved significantly to EUR 748 million from negative EUR 1,184 million, resulting in an EBIT margin of 74.20%. Earnings before taxes (EBT) reached EUR 663 million, a substantial turnaround from negative EUR 1,277 million in 2024.
Balance Sheet Strengthening
The company's financial position underwent substantial improvement during 2025. Equity turned positive at EUR 385 million compared to negative EUR 194 million in 2024, with the equity ratio increasing to 24.30% from negative 8.10%. Net debt was significantly reduced to EUR 798 million from EUR 1,643 million, representing a 51.40% decrease. The balance sheet total stood at EUR 1,586 million, down 33.80% from the previous year.
| Balance Sheet Items (EUR Million): |
2024 |
2025 |
Change (%) |
| Balance Sheet Total: |
2,396 |
1,586 |
-33.80% |
| Equity: |
-194 |
385 |
N/A |
| Equity Ratio: |
-8.10% |
24.30% |
- |
| Net Debt: |
1,643 |
798 |
-51.40% |
Operational Metrics and Investment
The restructuring efforts also impacted operational metrics, with the number of employees decreasing to 3,782 as of 31 December 2025, down 28.80% from 5,310 in the previous year. Investments excluding leasing were reduced to EUR 73 million from EUR 233 million, marking a 68.60% decrease as the company focused on optimizing its capital allocation during the restructuring phase.
Strategic Outlook for 2026
For 2026, Bajaj Mobility AG has outlined a strategic focus on its motorcycle core business, emphasizing efficiency gains through cost reduction measures. The company plans notable growth in revenue and unit sales while maintaining the restructuring momentum. Key priorities include achieving consistently positive cash flow, reducing fixed costs, streamlining organizational structures, and sharpening the product and project portfolio to enhance competitiveness.
Corporate Information
Bajaj Mobility AG serves as the holding company of KTM AG, one of Europe's leading motorcycle manufacturers. The company unites brands including KTM, Husqvarna Motorcycles, and GASGAS, offering a comprehensive portfolio spanning high-performance racing motorcycles, versatile street and offroad bikes, and travel-oriented models. The shares of Bajaj Mobility AG are listed on the SIX Swiss Exchange and Vienna Stock Exchange, with the audited annual financial report for 2025 expected to be available from March 26, 2026.
19
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
