Steyr Motors reports steady revenue growth in the first quarter of 2026 – Strong order backlog and increasing momentum in the defense business support growth outlook

Total order backlog of EUR 308 million, of which approximately EUR 200 million is legally binding
Rising demand in the defense marine sector, particularly for Unmanned Surface Vehicles (USVs), forms the basis for significant growth acceleration in 2026
BUKH acquisition strengthens market position in the international defense and specialized boat market and opens up additional revenue potential – consolidation from Q2 2026
Several major international projects and tenders scheduled to start from 2027 or already in the second half of 2026
Significant increase in earnings and margins expected in the second half of the year – forecast confirmed

Steyr, Austria, 20 May 2026 – Steyr Motors AG (ISIN AT0000A3FW25), one of the world’s leading companies in the field of customized engines for mission-critical defense and civilian applications, made a stable start to the 2026 financial year and remains clearly on a growth trajectory operationally despite a subdued first quarter. A strong order backlog, increasing demand in the defense marine sector, and new European defense programs form the foundation for significant growth acceleration in the second half of the year and beyond.

In the first quarter of 2026, Steyr Motors generated revenues of EUR 11.7 million[1] (previous year: EUR 11.5 million). Revenue development was impacted by delays in larger order volumes from India and the Middle East due to geopolitical tensions surrounding the Iran conflict. The projects concerned remain intact and have merely shifted into later periods.

Adjusted EBIT reached EUR 0.9 million, compared to EUR 2.1 million in the previous year. This was primarily due to strategic upfront investments, including targeted personnel expansion, increased production capacities to support the company’s growth trajectory in 2026 and subsequent years, as well as the postponement of high-margin projects. At the same time, the company expects a significant margin increase over the course of the year driven by higher utilization of existing capacities, execution of the contractually secured order backlog, and deliveries of high-margin spare parts for a leading defense customer.

With a total order backlog of EUR 308 million, of which around EUR 200 million is legally binding, Steyr Motors already has exceptionally high revenue visibility through the end of 2030. The market for unmanned systems (USVs), in particular, is currently developing very dynamically, with Steyr Motors increasingly positioning itself as a technology supplier. The company also expects additional momentum from a follow-up order from the U.S. Navy for approximately 500 boats. Revenue contributions from this program are expected from 2027 onward.

Another strategic growth driver is the acquisition of the Danish BUKH Group, which will be consolidated into the Group’s financial statements starting from the second quarter of 2026. The acquisition is already proving more profitable than originally expected in this early phase. At the same time, through the integration of the BUKH Group, Steyr Motors is tapping into significant tender and cross-selling opportunities, as well as high-margin aftermarket potential in the international defense and specialty boat market.

In addition, further growth potential from 2027 onward – and already in the second half of 2026 – is expected from new European defense programs and ongoing tenders totaling nearly 2,000 vehicles across several countries. At the same time, the newly developed M12 Power Unit is being tested in the first half of the year by both European armed forces and a renowned drone manufacturer. The Company sees substantial potential from 2027 onward for future series orders in the fields of mobile power supply, autonomous systems, and modern military infrastructure.

Julian Cassutti, CEO of Steyr Motors AG, explains: “The timing delays of larger order volumes from India and the Middle East impacted business development in the first quarter. Nevertheless, the strong order backlog, increasing momentum in the field of unmanned systems (USVs), and additional impetus from European defense programs provide a solid foundation for a significant acceleration in business development in the second half of the year.”

Against the backdrop of strong operational momentum, the Management Board confirms its guidance for the 2026 financial year and continues to expect revenues between EUR 75 million and EUR 95 million, with an EBIT margin of at least 15%.

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 further information, please contact:

Steyr Motors AG
Investor Relations
Phone: +43 676 6222367
Email: ir@steyr-motors.com
www.steyr-motors.com

Press contact
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone: +49 89 125 09 0333
Email: sh@crossalliance.de
www.crossalliance.de

[1] Of this amount, approximately EUR 1.7 million relates to revenues generated by Steyr Motors with BUKH A/S following the acquisition of BUKH A/S on 25 February 2026. These revenues are reported as third-party revenues, as BUKH A/S was only included in the consolidation scope of the Steyr Group as of 1 April 2026.