Steyr Motors AG announces important milestones in growth and expansion into Asia after successful listing
- Steyr Motors strengthens Asian market presence with new Beijing Office
- Steyr Motors goes for new emission certifications to open new market horizon for the marine business
- Seven new distributors in Asia to join Steyr Motors’ global network
Steyr, Austria, November 8, 2024 – Steyr Motors AG (ISIN AT0000A3FW25), one of the world’s leading companies in the field of customized engines for mission-critical defense applications, is pleased to announce three strategic milestones driving growth in Asia. These achievements, coming on the heels of Steyr Motors’ successful stock market debut last week, position the company for accelerated growth in 2025.
The newly accomplished milestones include the opening of a regional office in Beijing, China, a key emissions certification to unlock new market opportunities for the marine business, and an expanded distribution network across in Asia.
New Office in Beijing: Foundation for Asia-Pacific Growth
Steyr Motors opens its new office in Beijing, China, which will serve as the company’s official “Asian Representative Office”. Julian Cassutti, CEO of Steyr Motors, underscored the significance of this expansion, stating: “Our new office in Beijing lays the growth foundation for the entire Asia-Pacific region. In what has been a strong year, we’ve already signed over EUR 6 million in new contracts in Asia. This is just the beginning of the success story we’re writing with our key distribution partner, Trysun.”
Trysun, a well-established Steyr Motors partner, manages an extensive network of over 150 service points throughout China. Mr. Gao, the founder of Trysun, comments on the partnership’s strength: “We strongly believe in Steyr Motors’ engines and are proud to be a strategic partner for the entire ASEAN region.”
Emission Certification: Unlocking New Market Potential
In parallel with the Beijing office opening, Steyr Motors is pursuing China 2 emission certification for its marine engines. This certification aligns with local regulatory standards, broadening the market potential and positioning Steyr Motors for significant growth across the Chinese market. The certification, anticipated to enhance product adoption in 2025, will allow Steyr Motors to serve a greater range of marine industry clients in Asia and creating new revenue streams.
Expanded Distribution Network
Steyr Motors is also pleased to welcome seven new distributors in Asia, extending its reach and solidifying its distribution capabilities in Asia. These partnerships enable Steyr Motors to serve customers in emerging markets effectively, enhancing its service availability and supporting long-term growth.
Strategic pan-Asian meetings
The momentum of Steyr Motors’ Asian expansion continues with a series of high-profile meetings across Vietnam, Indonesia, and Singapore in the coming days.
CEO Julian Cassutti comments: „These milestones mark an exciting chapter in Steyr Motors’ journey, reinforcing our commitment to developing a robust presence in Asia. We look forward to sharing further updates as we continue to expand and deepen our footprint in Asia.”
Company profile of Steyr Motors AG
Headquartered in Steyr, Austria, Steyr 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 APUs 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
Press Contact in Germany, Austria and Switzerland
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone: +49 89 125 09 0333
E-mail: sh@crossalliance.de
www.crossalliance.de
Press Contact in France
CLAI
Matthieu Meunier
Phone: +33 06 26 59 49 05
E-mail: matthieu.meunier@clai2.com
Press Contact in UK
14:46 Consulting
Tom Sutton
Phone: +44 7796 474940
E-mail: tsutton@1446.co.uk
