PIERER Mobility AG Speeds Up Their ESEF Reporting
If you like riding on two wheels, and you like speed, there is a good chance you have heard of either PIERER Mobility AG, Europe’s leading powered-two-wheeler company, or one of their world-famous motorcycle brands such as KTM, HUSQVARNA Motorcycles and GASGAS or one of their E-bike brands such as HUSQVARNA E-Bicycles or R Raymon.
At ParsePort we have been responsible for speeding up the ESEF reporting of PIERER Mobility AG to match the speed of their motorcycles, and after they went through the onboarding process they published their annual financial report for 2020 in ESEF, we sat down with Michaela Friepess, Head of Investor Relations/Sustainability, and Zedin Sisic, Head of Group Controlling at PIERER Mobility AG to talk about the process of getting ready for ESEF and how they experienced the publishing process.
PIERER Mobility AG Wanted Simple and Effective ESEF Reporting
Every year HarbourClub, the association of Chief Communications Officers of large Swiss companies, organizes the Swiss Annual Report Rating, and in 2020 PIERER Mobility AG was named “Achiever of the Year” in the Value Reporting category, after they sped past 241 companies and finished in 28th place.
After this achievement PIERER Mobility AG had no intention of slowing down, and even as they were receiving their due accolades, they were looking to further improve the quality of their financial communication. With the introduction of ESEF they wanted to ensure that they would be able to continue the high quality and transparency of their financial reporting.
We asked Michaela Friepess from PIERER Mobility AG what drew them towards the ParsePort product line, when they were selecting their ESEF solution. “We wanted to make the transition to ESEF reporting as simple as possible, but we also wanted the best possible result when it comes to our annual reports. Finishing 28th last year was an exceptional performance, but we want to do even better.”
PIERER Mobility AG Didn’t Experience Any Changes to Their Reporting Process
One concern we hear repeatedly, when we talk to European companies, is that they worry about the change in their financial reporting process, which makes sense. Financial reporting is already a complicated process with many different stakeholders, so of course it is only natural to worry about changes to that process. On the 30th of March 2021 PIERER Mobility AG published their annual financial report in ESEF. Afterwards we asked Zedin Sisic how the ESEF conversion affected PIERER Mobility AG’s reporting process. “We initially thought that lots were going to change, but after testing the system with our 2019 report, I was confident we didn’t have to make any big changes to the way we do things. And luckily, that assumption turned out to be true. Not only was the mapping process and conversion simple and smooth, but changes to the report at short notice could also be implemented at the last minute without any problems.”
Due to the simplified tags used in the template, the converter can map the annual financial report automatically, even if there are last minute changes to the figures.