Steyr Motors (4X0) H2 2024 earnings summary

Executive summary

• Achieved strong financial results in 2024, with revenue of EUR 41.7 million and a successful Frankfurt and Vienna listing, establishing a solid foundation for future growth and international expansion in Asia, South America, and Brazil.

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

• Order backlog reached EUR 200 million, providing visibility through 2027.

• Management proposes a EUR 0.55 dividend per share, to be decided at the May 7th AGM.

Financial highlights

• Revenue increased by more than 9% year-over-year to EUR 41.7 million in 2024, with a 21.9% CAGR from 2022-2024.

• Adjusted EBIT for 2024 was EUR 10.1 million (24.3% margin); reported EBIT EUR 6.5 million (15.5% margin).

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

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

• Net cash position of around EUR 8 million at year-end 2024.

Outlook and guidance

• Revenue for 2025 expected to grow by at least 40% compared to 2024, targeting over 1,250 engine units (up from 729 in 2024).

• EBIT margin of at least 20% targeted for 2025.

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

• Order backlog covers more than two-thirds of 2025 targeted revenue; remaining gap expected to be filled through ongoing spot business and new contracts.

• No need for further CapEx investments to double output; 2025 CapEx expected below EUR 5 million.