Steyr Motors (4X0) H1 2025 earnings summary

Executive summary

• Achieved 17.1% revenue growth to EUR 23.1 million in H1 2025, driven by both Civil and Defense segments and international expansion, following successful listings in Frankfurt and Vienna and approval of EUR 0.55 dividend per share.

• Significant order backlog exceeding EUR 300 million through 2030, supporting sustainable and profitable growth, with new strategic agreements in Europe, US, India, Latin America, and Asia.

• Workforce expanded to support growth, with headcount rising to 135, focusing on engineering and sales.

• Recent milestones include multiple international supply agreements, expansion into Asia and the Americas, and feasibility study for Southeast Asia production.

• Strategic initiatives include new product development and active M&A exploration.

Financial highlights

• Revenue increased 17.1% year-over-year to EUR 23.1 million in H1 2025, with EBIT at EUR 3.4 million (14.8% margin) and net profit at EUR 2.4 million (10.5% margin).

• Gross profit margin for H1 2025 was 48.5%, down from 50.7% in H1 2024.

• Revenue growth in civil segment +24.4% and defense segment +12.4% year-over-year.

• Cost of materials ratio improved to 58.7% from 59.9% in H1 2024.

• Cash and cash equivalents decreased to EUR 6,273 thousand, reflecting higher working capital and dividend payout.

Outlook and guidance

• Full-year 2025 guidance confirmed: revenue growth of at least 40% year-over-year, EBIT margin above 20%, and annual output of at least 1,250 units.

• Mid-term revenue target of EUR 140 million by 2027, with EBIT expected to quadruple from 2024 levels.

• Significant portion of high-margin engineering revenue expected in H2, supporting higher profitability.

• Q4 anticipated to be the strongest quarter, similar to last year.

• Focused on expanding in North America, China, and Poland, leveraging high defense spending and new contracts.