Bad report on KTM being torn apart and in danger of having to sell MotoGP!

April 25: An extraordinary meeting of Pierer Mobility. which comes after the failure of proposed capital increases in April, after the loss of more than half of the company's capital stock, and with KTM production lines halted due to lack of liquidity. Meanwhile, in MotoGP: canceled wild cards, reduced testing, disgruntled riders. And the question now is no longer "what will be the future of KTM?" but rather: will KTM be able to finish the MotoGP season or will it even have to sell it? And to whom? If it all seems sudden to you, it is only because you do not follow Misterhelmet. We have been announcing, explaining, documenting this crisis for a year. Everything has come true. And everything keeps getting worse. And we do another Misterhelmet Report!

 

 

   

 

 

Disclaimer.
If satisfaction appears, in video or articles, it is not because of the development of the story, which pains me, but because I have a clear conscience for having worked well and honestly.
I can only tell you to keep following Misterhelmet. All the documentation I am talking about can be found here: https://www.pierermobility.com/en/newsroom/ad-hoc-news

 

 

Let's talk about KTM, but we could say: let's do a "live autopsy" of a group that is taking itself apart piece by piece.
On April 25, today for those watching the video the first day, Pierer Mobility will hold an extraordinary meeting that has already lost much of its meaning,
because the measures that were supposed to save the day ... have been withdrawn.

Capital increases: failed attempt

On April 4, Pierer Mobility had announced a desperate plan: 150 million in cash capital increase, with subscription rights.
200 million in loans from Bajaj, to be converted into shares at 7.50 euros. It sounded like the plan of hope. It became waste paper at the start.
Neither the market nor small shareholders responded, and the legal risk associated with possible appeals did the rest. Result?
The measures were removed from the agenda of the April 25 shareholders' meeting. A rescue plan, in short, dead before it was born.

Capital halved, phantom budget

The problem remains: more than half of the registered capital has evaporated. The 2024 budget has been postponed because it can no longer close with guaranteed business continuity. And without a budget, without capital, without investors -- the whole group is walking in a vacuum.

Production: stalled for months, now suspended altogether

The real short-circuit, however, is industrial. Less than 4,000 motorcycles produced in early 2025. Production again suspended since April 28.
And the stated goal of 230,000 motorcycles by June-it's a laugh to keep from crying. Officially there is talk of a lack of components.
But the reality is that components have not been bought because money has been lacking for months. And let's not forget: there are still tens of thousands of unsold bikes in stock. So: produce what? Why? For whom? With what money?

MotoGP: a drained asset, in survival mode

And now we look at MotoGP.
It used to be the thing to save, the flagship to protect as the company crashed. Today it has become the thing to be sacrificed to try to save what's left of the company. And mind you: not only is it no longer ethical to continue racing with a failing company while workers and suppliers hang on, it is no longer even economically sustainable.
MotoGP is now the only jewel left in a rusting crown, the only asset with any value left, and therefore the most easily divested.
But it too is at risk, and it is not true that it goes on with "separate" funds or separate sponsors.
It is a fable. A comfortable fairy tale that no longer holds up today. And I will prove it to you.
The wild cards? Canceled. And not for technical reasons. The excuses are ridiculous and pathetic.
The tests? Reduced to the bone.
Beirer tells us that "the four official drivers test directly on the track." Sure, right. Fairy tales.

Meanwhile, the pilots start talking openly, and behind the scenes it's contract hunting. Acosta? It's already lost. But we make separate content on that. The real question is simple and uncomfortable: will KTM really finish the MotoGP season?
For me, if it gets there, it will be a zombie, although at MSMA meetings the Austrians pretend to be alive with constant protests and absurd claims.

Investors: just storytelling

The names aired in recent months? FountainVest invested elsewhere. CFMoto never showed up. Bajaj, while involved, has never stated that it will save KTM. If anything, it will buy the corpse a buck a kilo and tear it apart.
And BMW, perhaps interested--but only in grid slots, not in KTM as such.

What was supposed to be a rescue net turned out to be a cloud of communicative vapor.
Nothing but stories, communiqués, promises, and press from firefighters on the payroll.
Months of baloney by Stephen Pierer to kick the ball forward and not lose control of the corpse that has become his industry group.

The sales network is a company's calling card, and it is reduced to the state of commercial neglect, with desperate dealers now reduced to doing infomercials in which they try to give away motorcycles that no one wants.

April 25 assembly: without content

And so we come to the special assembly. Created to resolve, today it comes without its key points.
The cash increase is not happening. The conversion of loans into equity neither. And the real decisions -- they are postponed, again.

Conclusion - All confirmed. Again.

What everyone pretends to find out today, we have been telling on Misterhelmet for almost a year.
The financial crisis, the industrial crisis, the unbundling of activities, the MotoGPrisk...
Every piece has gone exactly where we predicted. We are not smarter.
We simply went to school, analyzed the data and didn't get bought off by 2-3 bikes on trial.
And today, while some people are surprised, we confirm, we verify, we document.
And we confirm again.

Pierer Mobility is technically stalled.
KTM is out of oxygen.
And MotoGP could lose another manufacturer--before the season is even over.

 

Disclaimer.
If satisfaction appears, in video or articles, it is not because of the development of the story, which pains me, but because I have a clear conscience for having worked well and honestly.
I can only tell you to keep following Misterhelmet.