{"id":1856,"date":"2024-11-08T07:30:17","date_gmt":"2024-11-08T06:30:17","guid":{"rendered":"https:\/\/ir.steyr-motors.com\/?p=1856"},"modified":"2024-11-08T07:30:17","modified_gmt":"2024-11-08T06:30:17","slug":"steyr-motors-ag-announces-important-milestones-in-growth-and-expansion-into-asia-after-successful-listing","status":"publish","type":"post","link":"https:\/\/ir.steyr-motors.com\/en\/2024\/11\/08\/steyr-motors-ag-announces-important-milestones-in-growth-and-expansion-into-asia-after-successful-listing\/","title":{"rendered":"Steyr Motors AG announces important milestones in growth and expansion into Asia after successful listing"},"content":{"rendered":"<ul>\n<li>Steyr Motors strengthens Asian market presence with new Beijing Office<\/li>\n<li>Steyr Motors goes for new emission certifications to open new market horizon for the marine business<\/li>\n<li>Seven new distributors in Asia to join Steyr Motors\u2019 global network<\/li>\n<\/ul>\n<p><strong>Steyr, Austria, November 8, 2024 \u2013 <\/strong>Steyr Motors AG (ISIN <a href=\"https:\/\/www.boerse-frankfurt.de\/equity\/steyr-motors-ag\" target=\"_blank\" rel=\"noopener\">AT0000A3FW25<\/a>), one of the world&#8217;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\u2019 successful stock market debut last week, position the company for accelerated growth in 2025.<\/p>\n<p>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.<\/p>\n<p><strong>New Office in Beijing: Foundation for Asia-Pacific Growth<\/strong><\/p>\n<p>Steyr Motors opens its new office in Beijing, China, which will serve as the company\u2019s official \u201cAsian Representative Office\u201d. Julian Cassutti, CEO of Steyr Motors, underscored the significance of this expansion, stating:\u00a0\u201cOur new office in Beijing lays the growth foundation for the entire Asia-Pacific region. In what has been a strong year, we\u2019ve already signed over EUR 6 million in new contracts in Asia. This is just the beginning of the success story we\u2019re writing with our key distribution partner, Trysun.\u201d<\/p>\n<p>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\u2019s strength:\u00a0\u201cWe strongly believe in Steyr Motors\u2019 engines and are proud to be a strategic partner for the entire ASEAN region.\u201d<\/p>\n<p><strong>Emission Certification: Unlocking New Market Potential<\/strong><\/p>\n<p>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.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>Expanded Distribution Network<\/strong><\/p>\n<p>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.<\/p>\n<p><strong>Strategic <\/strong><strong>pan-Asian meetings<\/strong><\/p>\n<p>The momentum of Steyr Motors\u2019 Asian expansion continues with a series of high-profile meetings across Vietnam, Indonesia, and Singapore in the coming days.<\/p>\n<p>CEO Julian Cassutti comments: \u201eThese milestones mark an exciting chapter in Steyr Motors\u2019 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.&#8221;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Company profile of Steyr Motors AG<\/strong><\/p>\n<p>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&#8217;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.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>For further information, please contact:<\/strong><\/p>\n<p><strong>Steyr Motors AG<\/strong><br \/>\nInvestor Relations<br \/>\nPhone: +436766222367<br \/>\nE-mail:\u00a0<a href=\"mailto:ir@steyr-motors.com\">ir@steyr-motors.com<\/a><br \/>\n<a href=\"http:\/\/www.steyr-motors.com\">www.steyr-motors.com<\/a><\/p>\n<p><strong>Press Contact in Germany, Austria and Switzerland <\/strong><br \/>\nCROSS ALLIANCE communication GmbH<br \/>\nSusan Hoffmeister<br \/>\nPhone: +49 89 125 09 0333<br \/>\nE-mail:\u00a0<a href=\"https:\/\/mutareso365-my.sharepoint.com\/personal\/eva_hoefer_mutares_com\/Documents\/Anlagen\/sh@crossalliance.de\">sh@crossalliance.de<\/a><br \/>\n<a href=\"http:\/\/www.crossalliance.de\">www.crossalliance.de<\/a><\/p>\n<p><strong>Press Contact in France<br \/>\n<\/strong>CLAI<br \/>\nMatthieu Meunier<br \/>\nPhone:\u00a0+33 06 26 59 49 05<br \/>\nE-mail:\u00a0<a href=\"https:\/\/mutareso365-my.sharepoint.com\/personal\/eva_hoefer_mutares_com\/Documents\/Anlagen\/matthieu.meunier@clai2.com\">matthieu.meunier@clai2.com<\/a><\/p>\n<p><strong>Press Contact in UK<br \/>\n<\/strong>14:46 Consulting<br \/>\nTom Sutton<br \/>\nPhone:\u00a0+44 7796 474940<br \/>\nE-mail:\u00a0<a href=\"mailto:tsutton@1446.co.uk\">tsutton@1446.co.uk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019 global network Steyr, Austria, November 8, 2024 \u2013 Steyr Motors AG (ISIN AT0000A3FW25), one of the world&#8217;s leading companies in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-1856","post","type-post","status-publish","format-standard","hentry","category-corporate-news-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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