EANS-Adhoc: KTM Power Sports AG
KTM increases expectation of profits
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Company Information
26.11.2010
+++ KTM increases expectation of profits +++
KTM increases expectation of profits for 2010
EBIT between 28 and 29 million EUR Planned changes in the Executive Board Bajaj increases share in KTM to 38.08%
Mattighofen, 26 November 2010
Expected performance increased up to 28 or 29 million EUR As the business performance in September and October exceeded the expectations, KTM expects an EBIT between 28 and 29 million EUR at the end of the business year.
Planned changes in the Executive Board As part of the long-term strategic orientation of the KTM-Group the mandate of Mr. Stefan Pierer as Chairman of the Executive Board of KTM-Group was prematurely extendend until 31 December 2015. Mr. Friedrich Roithner, CFO of CROSS Industries AG is appointed CFO of KTM Power Sports AG as of 1 January 2011. Mr. Patrick Prügger resigns from the Executive Board as of 31 December 2010 by mutual agreement.
Bajaj increases share in KTM With the most recent share purchases Bajaj Auto Ltd. increased its share in KTM Power Sports AG and now holds 38.08%; thus strengthening the strategic importance of the cooperation for both sides.
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end of announcement euro adhoc
Further inquiry note:
KTM Power Sports AG
DI Stefan Pierer
Tel: +43 664 816 2490
Mail to: thomas.kuttruf@ktm.at
Branche: Technology
ISIN: AT0000645403
WKN:
Index: mid market
Börsen: Wien / official market