Steyr Motors signs exclusive supply contract with PALFINGER
- Contract with defined purchasing volume in the civil maritime area
- Supply of drive technology for various boat applications
- Mutual support via service networks and simultaneous expansion of the service network
Steyr, Austria, 27 January 2025 – Steyr Motors AG (“Steyr Motors”, ISIN AT0000A3FW25), one of the world’s leading companies in the field of customized engines for mission-critical defense and civilian applications, has signed a two-year supply agreement with PALFINGER. The contract provides for the delivery of boat engines from the Steyr portfolio and underscores the leading position of Steyr Motors in the field of maritime propulsion solutions.
The maritime solutions of PALFINGER include cranes, winches, lifting and handling equipment, slipway systems, boats, davits, as well as fenders and provides these solutions for all major maritime segments, including Offshore, Oil and Gas, Merchant and Cargo, Passengers Cruise, Governmental, Wind and Aquaculture. In addition, customers benefit from the global network of PALFINGER’s fully-owned service hubs.
The contract includes the supply of engines used in various applications from the maritime PALFINGER product range, such as fast rescue boats and free-fall lifeboats. This partnership strengthens Steyr Motors’ position as a key supplier of marine applications, and the company will benefit from PALFINGER’s global reach and service network.
An important aspect of the partnership is the close cooperation between the two companies, particularly in the area of the service network. PALFINGER will be supported by the technical expertise and engineering excellence of Steyr Motors, including specific test bed requirements and direct mentoring on specialized projects. This will help to further improve the efficiency and reliability of PALFINGER products.
Julian Cassutti, CEO of Steyr Motors AG, comments: “The collaboration with PALFINGER underpins our commitment and leading market position for innovative and reliable propulsion solutions. The partnership with PALFINGER enables us to further expand our service network while increasing the competitiveness of our partners in the global maritime market.“
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. For the full year 2024, revenues are expected to reach EUR 41 to 45 million and adjusted EBIT to be in the range of EUR 9 to 11 million. For 2025, Steyr Motors is aiming for a year-on-year increase in revenue of over 40%, an adjusted EBIT margin of over 20% and a production volume of more than 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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