Steyr Motors AG delivers engines for Hovercraft to Amphibious Marine

• Order in the civilian maritime sector
• Supply of propulsion technology for commercial hovercraft

Steyr, Austria, December 11, 2024 – Steyr Motors AG (“Steyr Motors”, ISIN ), one of the world's leading companies in the field of customized engines for mission-critical defense and civilian applications, has received an order for the supply of engines from Amphibious Marine, a company specializing in the design, manufacture and supply of special vehicles and equipment for amphibious operations.

Steyr Motors will equip the Explorer 24 from Amphibious Marine with its propulsion technology. The Explorer 24 is a commercial hovercraft designed for efficiency, economy and saltwater capability. It is used for a wide variety of applications, including tourism, search and rescue missions and recreational activities. The vehicle is typically used by tourism operators, search and rescue services, government agencies, and private users. Among its most prominent users, for example, is the private aerospace company SpaceX, which uses the Explorer 24 for transportation between its sites at Boca Chica in Texas and South Padre Island.

“The collaboration with Amphibious Marine once again demonstrates the versatility and reliability of our propulsion solutions. With our high-performance engines for the most demanding applications, we are growing not only in the defense sector but also in civilian applications. This order will further strengthen Steyr Motors' reputation as a leading supplier of high-performance engines,” comments Julian Cassutti, CEO of Steyr Motors.

Company profile of Steyr Motors AG

Headquartered in Steyr, Austria, Steyr Motors AG is a global leader in the development and production of high-performance customized special engines with high power density and durability. The Company’s engines are primarily used for military special vehicles, boats (both military and civilian) and as auxiliary power units (“APU”) for main battle tanks and locomotives. For the full year 2024, revenues are expected to reach EUR 41 to 45 million and adjusted EBIT to be in the range of EUR 9 to 11 million. For 2025, Steyr Motors is aiming for a year-on-year increase in revenue of over 40%, an adjusted EBIT margin of over 20% and a production volume of more than 1,250 units.

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