Steyr Motors AG secures first orders from Asian expansion – order volume of more than EUR 1 million

• First orders from the newly established ASEAN distributor network
• Order volume of more than EUR 1 million
• Delivery of engines for civil marine applications

Steyr, Austria, December 2, 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, is celebrating another important milestone in its international expansion. Shortly after opening a regional office in Beijing, China, and establishing an ASEAN distributor network, the company was able to book its first orders worth more than EUR 1 million.

The new orders acquired via a distributor in Taiwan underline the successful positioning of Steyr Motors in a region with a growing demand for reliable and efficient engine technologies. With its successful market entry in Asia, Steyr Motors is strengthening its international presence and laying the foundation for future growth in one of the world's most dynamic economic regions.

Julian Cassutti, CEO of Steyr Motors, comments: “We are delighted to announce the sale of numerous high-performance engines in Taiwan. Special thanks go to our experienced distribution partners in the ASEAN region, who have made this milestone possible. We look forward to even greater successes in the future.”

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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