euro adhoc: KTM Power Sports AG
Financial Figures/Balance Sheet
KTM Power
Sports AG - Focus on POWER SPORTS Vehicles
Business Year 2004/05 (Sep 1, 2004 - Aug 31, 2005):
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
09.11.2005
Cooperation with Polaris Industries Inc. since July 2005 12% higher group sales Units: more than 80,000 motorcycles Equity ratio: 39 % Proposed dividend: EUR 0.55 per share
Focus on POWER SPORTS vehicles KTM Power Sports AG (former CROSS Holding AG) acquired 100% of the shares in the KTM Group GmbH in several stages over the course of the business year 2004/05. This resulted in a company name change to KTM Power Sports AG, a new focus on the POWER SPORT segment as well as the sale of the participations that no longer belonged to the KTM group, such as Rosenbauer International AG.
The increase of the KTM holdings enabled KTM Power Sports AG to fully consolidate its participation as of December 1, 2004. Due to the proportional consolidation in the first quarter of 2004/05 and the full consolidation of the KTM group in December 2004, a comparison with last years figures is not feasible.
Cooperation with Polaris Industries Inc. The Polaris Group, based in Minneapolis, USA, acquired 24.9% of the shares in the KTM Power Sports AG during the past business year. A number of joint-venture projects were defined at the operative level with the KTM-Sportmotorcycle AG and their implementation was begun.
Group Sales of KTM Power Sports AG: EUR 381.9 MM; +147% (KTM Group GmbH: EUR 451.2 MM, +12% ) Group sales of the KTM Group increased by 12 % to EUR 451,2 MM, which resulted in group sales of KTM Power Sports AG of EUR 381,9 MM (+147%). Along with volume growth, the rise in sales resulted from an improved model mix (2-cylinder models) and strong growth in the related products segment (spare parts/accessories, WP products).
Group Sales (units) of the KTM group: 80,356 motorcycles, +5 % Sales did reach 80,356 units supported by the successful expansion in the on-road motorcycle market - launch of 990 Super Duke and 950 Supermoto.
EBIT KTM Power Sports AG: EUR 17.7 MM, +14% (KTM Group GmbH: EUR 25.4 MM, -39%) EBIT reaches EUR 17.7 MM (+14 %) during the course of the Business Year 2004/05. The negative foreign exchange impact led to a reduction of the gross margin, which only has been partially offset by the under proportional rise in overheads and the high acceptance of the new 2-cylinder models.
Equity Ratio, 39.0% Highly welcome is the development of the equity, which amounts to 39.0 % of the balance sheet of KTM Power Sports AG.
Positive Outlook KTM sees chances for growth in the 2005/06 business
year as well, in which primarily new, attractive models and related
products shall carry the future growth. First results are already
anticipated in the 2005/06 business year from the cooperation
agreement concluded with the Polaris Group, particularly regarding
the expansion of the dealership network and the cooperation in
purchasing. However, the spotlight of this cooperation shall be on
the reduction of the EUR/USD risk through mutual product deliveries
("natural hedge").Key Figures of KTM Power Sports AG (IFRS): EUR Million (IFRS) BY 04/05 BY 03/04 V % Sales revenues 381.9 154.5 + 147 EBIT 17.7 15.5 + 14 EBITDA 32.8 21.2 + 55 Net Profit 12.1 13.1 - 8 Balance Sheet Total 407.5 163.2 + 150 Equity 158.8 67.0 EBIT Margin 4.6 % 10.0 % EBITDA Margin 8.6 % 13.7 % Employees (Ultimo 31.8.) 1,584 1,570 + 1 Share Price Development Share price rose continuously over the course of the year, from EUR 30.4 on 1.9.2004 to EUR 48.3 on the balance sheet date 31.8.2005, which corresponds to an increase of 59% compared to the closing price for the 2003/04 business year. The number of shares rose from 4,400,000 in the previous year to 6,892,643. CROSS Industries AG is the principal shareholder, with more than 50% of the voting rights.
Dividend The board proposes to pay out a dividend of 0.55 EUR/share for the business year 2004/05 taking § 53 para. 2 companies act (AktG) into account.
end of announcement euro adhoc 09.11.2005 20:00:00
Further inquiry note:
KTM Power Sports AG
Mag. Michaela Friepess
Telefon +43 (0) 7242 / 694 02-113
mailto:michaela.friepess@cross-ag.com
Branche: Economy, Business & Finance
ISIN: AT0000645403
WKN: 726812
Index: ATX Prime
Börsen: Wiener Börse AG / official dealing