Successful IPO of Steyr Motors at the Frankfurt Stock Exchange
On Tuesday, 30th October 2024, Steyr Motors, a leading specialist in custom-made engines for critical defense and civil applications, successfully made its debut on the Frankfurt Stock Exchange’s Scale segment. This marks Mutares’ sixth exit in 2024, with the company retaining a majority share of 70.9%.
Leading provider of high-performance engines
Steyr Motors specializes in the development and production of high-performance engines known for their density and durability. They are widely used in military vehicles, boats, and as auxiliary power units (APUs) for tanks and locomotives. A significant portion of the company’s revenue comes from defense applications, such as supplying engines for US Navy Seals’ « Ribcraft » boats and APUs for tanks like the Leopard 2.
The successful transformation of Steyr Motors by Mutares has led to a quick operational turnaround, resulting in revenue growth, profitability, and a positive free cash flow. With an order backlog of EUR 150 million until 2027, the company is poised for dynamic growth and high profitability in the coming years.
Future growth prospects
For the year 2024, Steyr Motors is expected to achieve a revenue of EUR 41 million to EUR 45 million and an adjusted EBIT between EUR 9 million and EUR 11 million. In 2025, the company aims for over 40% revenue growth year-on-year and an adjusted EBIT margin of over 20%.
Overall, Steyr Motors’ successful IPO and growth trajectory reflect Mutares’ commitment to creating long-term value and fostering sustainable growth in the financial markets.
Source : www.anleihen-finder.de