MV Agusta Emerges From KTM Shadow
In a release at the end of January 2025, MV Agusta confirmed that Art of Mobility S.A., a company controlled by the Sardarov family, will regain full control of the MV Agusta Group, officially marking its separation from KTM. The Sardarovs were the prior owners of MV Agusta, before KTM/PIERER Mobility took a controlling ownership position.
"After a successful year for MV Agusta, the financial situation that recently unfolded at PIERER Mobility AG could have significantly impacted the Italian brand's operations. This strategic agreement ensures that MV Agusta remains completely uninvolved in KTM's ongoing financial restructuring process, allowing the company to continue its positive growth path.
"Over the past 18 months, MV Agusta has strengthened its financial stability under a fully revitalised management team. In 2024, the company sold 4,000 motorcycles, achieving an annual growth rate of 116% compared to 2023, with the 2023 sales total already matched by July 2024. The year also marked MV Agusta's best ever in parts sales terms, with a 99% availability rate covering models produced up to seven years ago."
With this move, the company says it also aims to safeguard its network of suppliers and dealers, shielding them from any potential financial disruptions, keeping them from being affected by KTM's restructuring process, and reinforcing MV Agusta's stability and commitment to its stakeholders.
"As for MV Agusta's global sales network, all 219 active sales points, including 41 service points, will continue business as usual, with the total number expected to reach 270 this year. Additionally, 20 non-European importers are already part of the distribution network. MV Agusta's business partners have played a crucial role in the company's 2024 achievements, and they will continue to be key contributors to the brand's future growth."
The company went on to say that it has "everything in place to continue its positive expansion and to keep delivering on its commitments. MV Agusta's operations remain fully independent, with Varese proudly continuing to serve as the central hub for all key activities, including product development, production, sales, marketing, and after-sales services.
"The development of next generation of motorcycles is progressing as planned, paving the way for a renewed, innovative, exclusive range and as always focused on celebrating its famous claim 'Motorcycle Art'.
Timur Sardarov – CEO of Art of Mobility S.A. said: "This is a moment of pride for all of us at MV Agusta. Regaining full control of the company means we are now stronger and more focused than ever on delivering excellence.
"Over the past two years, the company has significantly strengthened its processes, systems, and workforce. These structural changes are the foundation of the extraordinary results achieved in 2024 and will continue to drive our success in the years to come. I have full confidence in our leadership team, whose vision, combined with the dedication and professionalism of our renewed dealer network, will take MV Agusta to new heights.
"My commitment, and that of my family, is to be a vital force for the Varese team, the region, and all our partners."
For its part, Pierer Mobility AG/KTM stated that it had sold all its shares back to the minority shareholder Art of Mobility S.A. for an enterprise value in the mid double-digit million euro range.
That is the 51.1% shareholding that it increased its original 25.1% stake to in spring 2024 - less than a year ago. It has acquired that original 25.1% stake in November 2022.
