EANS-Adhoc: KTM Power Sports AG
Press Release
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
annual report
24.03.2011
+++ Result 2009/10 +++
KTM back at the top - all expectations exceeded
EBIT: 30.0 million EUR1 Net result after taxes: +14.0 million EUR Free cash flow: 50.7 million EUR Turnover: 591.4 million EUR Sales: 85,543 vehicles
Mattighofen, March 24, 2011
Change of the business year Due to efficiency reasons and in order to improve comparability with official statistics on market shares, registration figures etc., the business year was changed in order to match the calendar year. Thus, the following data is comparable with prior year periods only to a limited extent.
Improvement of results at all levels Significant improvement of turnover, sales and profit in comparison to business year 2008/2009, "which can be attributed to the quick adjustment to the changing market environment and the focus on Off Road Competition. Thus market shares could be doubled despite the declining market". This is how Stefan Pierer, Chairman of the Executive Board of KTM Power Sports AG explained the result of 2010. Turnover increased by EUR 591.4 million, sales rose to over 85,000 items mainly in the motocross segment. The EBIT also increased to EUR 30.0 million, which resulted in a net result of EUR 14.0 million.
Further improvement of financial key figures The equity ratio per December 31, 2010 amounts to 39.7% (previous year 27.8%). In the year under review KTM managed to generate a free cash flow in the amount of EUR 50.7 million. As a result interest margins of the existing financing structure were also significantly reduced as of January 1, 2011.
New market shares Emphasizing the outstanding performance of more than 1,200 dealers worldwide, Stefan Pierer pointed out: "Without our dealers, this improvement would not have been possible." In the off road motor bike segment (Motocross and Enduro) more than 54,000 items were sold. "This makes us the world market leader", Hubert Trunkenpolz, Executive Board member responsible for sales and distribution proudly announced. With nine World Championship titles in different racing classes it was the most successful year in the racing history of KTM and also had a significant effect on sales. Furthermore, 18,000 items were sold in the street motorcycle segment.
Outlook As a result of the overall restructure of one of KTM´s core segments, the Enduro Competition family, a further increase in turnover and sales can be anticipated for the current business year. Moreover, with the launch of the motorcycle Duke 125ccm, KTM will refocus on a young target group. This small motorcycle is KTM´s first result from the co-operation with Bajaj Auto Ltd. and will be launched Europe wide as well as in the rapidly growing emerging markets, particularly in India, Brazil and Malaysia.
RESULT 2009/10 1)
in million EUR
01/09/2009 - 31/12/2010
(16 months)
01/09/2008 - 31/08/2009
(12 months)
Turnover
591.4
454.6
EBITDA
72.8
6.5
EBIT
30.0
-65.1
Result after taxes
14.0
-81.4
Result per share2 (in EUR)
undiluted
1.545
-11.253
EBITDA margin
12.3 %
1.4%
EBIT margin
5.1%
-14.3%
1) Change of the balance sheet date: Extension of the reporting period to 16
months from September 1, 2009 to December 31, 2010. Data is comparable withprior year periods only to a limited extent.
2) Calculated on the basis of average shares in the reporting period.
FOR FURTHER INFORMATION KTM Power Sports AG; Viktor Sigl MBA, Investor Relations
Tel: +43 7742 6000 144 E-mail: viktor.sigl@ktm.at
end of announcement euro adhoc --------------------------------------------------------------------------------
Contact:
KTM Power Sports AG
Mag. Viktor Sigl MBA
Tel: +43 7742 6000 144
Mail to: viktor.sigl@ktm.at
Branche: Technology
ISIN: AT0000645403
WKN:
Index: mid market
Börsen: Wien / official market