EQS-News: Steyr Motors AG / Key word(s): Incoming Orders/Expansion
Steyr Motors AG underpins its internationalisation strategy with order
from India
02.04.2025 / 10:15 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Steyr Motors AG underpins its internationalisation strategy with order
from India
• Contract signed with Ghatge Patil Industries (GPI) for 450 motors and
spare parts
• Delivery over three years from 2025 to 2027 with continuously
increasing quantities
• Strengthening the market position in Southeast Asia and expanding the
partnership with renowned industrial partners in India
Steyr, Austria, 2 April 2025 – Steyr Motors AG ((1)ISIN AT0000A3FW25), one
of the world's leading companies in the field of customized engines for
mission-critical defense and civil applications, has signed a contract
with the Indian industrial company Ghatge Patil Industries (GPI). The
agreement covers the delivery of a total of 450 high-performance diesel
engines and spare parts with a total value of more than EUR 10 million
over a period of three years.
The contract with GPI – a renowned manufacturer of precision-engineered
components for the offshore, marine and energy industries – emphasises the
growing importance of India in Steyr Motors' international business. India
is one of the strategically most important growth markets for Steyr Motors
worldwide. The dynamically growing country offers enormous potential in
the industrial and military sectors.
"After China and neighboring countries as well as South America, India is
one of the largest growth regions for the coming years and an important
market for Steyr Motors to expand its international presence. We believe
that our activities in India will have a noticeable impact on our figures,
especially from 2027 onwards," says Julian Cassutti, CEO of Steyr Motors
AG.
India has proposed a defence budget of the equivalent of almost USD 79
billion for the financial year 2025/2026. This amount corresponds to
around 1.9% of the gross domestic product (GDP) and serves as an indicator
of the high volume of investment in security-related technologies. The
high-performance product portfolio of Steyr Motors is ideally suited to
these requirements and is specially tailored to local Indian customers.
Steyr Motors is accelerating its market entry in India through possible
future joint ventures and local partnerships in order to respond to local
customer needs in a targeted manner.
"While we see great expansion opportunities for the future in India, the
first quarter of 2025 makes me very confident that we will fulfill our
plans in our traditional European market," adds Julian Cassutti.
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. In the full year 2024, Steyr Motors generated an (adjusted)
EBIT margin of 24%. For 2025, Steyr Motors is aiming for a year-on-year
increase in revenue of at least 40%, an EBIT margin of well above 20%, and
a production volume of at least 1,250 units.
For further information please contact:
Steyr Motors AG
Investor Relations
Phone: +436766222367
E-mail:(2)ir@steyr-motors.com
(3) www.steyr-motors.com
Press contact in Germany, Austria, Switzerland
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone: +49 89 125 09 0333
E-mail: (4)sh@crossalliance.de
(5)www.crossalliance.de
Press contact in France
CLAI
Matthieu Meunier
Phone: +33 06 26 59 49 05
E-mail: (6)matthieu.meunier@clai2.com
Press contact in UK
14:46 Consulting
Tom Sutton
Phone: +44 7796 474940
E-mail: (7)tsutton@1446.co.uk
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02.04.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
══════════════════════════════════════════════════════════════════════════
Language: English
Company: Steyr Motors AG
Im Stadtgut B1
4407 Steyr
Austria
Phone: +43 7252 2220
E-mail: office@steyr-motors.com
Internet: https://www.steyr-motors.com/de/
ISIN: AT0000A3FW25
WKN: A40TC4
Listed: Regulated Unofficial Market in Frankfurt (Scale); Vienna
Stock Exchange (Vienna MTF)
EQS News ID: 2110284
End of News EQS News Service
2110284 02.04.2025 CET/CEST
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