Steyr Motors (4X0) H2 2024 earnings summary

Executive summary

• Achieved strong financial results in 2024, surpassing forecasts and marking a turning point in company history.

• Global leader in customized engines for defense and civil applications, with a strong international customer base and diverse product lines.

• Successfully listed on the Frankfurt Stock Exchange in October 2024 and Vienna Stock Exchange in February 2025, enhancing visibility and access to capital.

• Significant expansion in global markets, including new offices and distribution agreements in Asia, South America, Brazil, and the US.

• Entered major framework agreements with Rheinmetall and Palfinger, boosting defense sector growth and order backlog.

Financial highlights

• Revenue grew by over 9% to €41.7 million in 2024, with a 21.9% CAGR from 2022-2024.

• Adjusted EBIT for 2024 was €10.1 million (24.3% margin); unadjusted EBIT was €6.5 million.

• Net profit for 2024 was €4.88 million, reversing a €9.13 million loss in 2023.

• Gross profit margin improved to 48.7% from 39.8% year-over-year.

• Proposed dividend of €0.55 per share for 2024, to be decided at the May 7th AGM.

Outlook and guidance

• Revenue expected to increase by at least 40% in 2025 compared to 2024, driven by strong order backlog and new contracts.

• Targeting output of over 1,250 engine units in 2025, up from 729 in 2024.

• EBIT margin anticipated at a minimum of 20% for 2025.

• Medium-term plan projects fourfold EBIT growth by 2027 versus 2024.

• Focus on international expansion, especially in North America, China, and Poland, leveraging high defense spending and new contracts.