EQS-News:  Steyr Motors AG underpins its internationalisation strategy with order from India

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 (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:ir@steyr-motors.com
 www.steyr-motors.com

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