Steyr Motors to List on Frankfurt Stock Exchange by End of 2024

Steyr Motors AG, a leader in customized engines for critical military and civil applications, plans to list on the Frankfurt Stock Exchange's Scale segment by the end of 2024. The Austrian company aims to expand its international presence and access better financing options. Steyr, supported by its main shareholder Mutares, will conduct a private placement of shares before the listing.

In 2024, the company expects revenues between EUR 41 and 45 million and an adjusted EBIT of EUR 9 to 11 million. Nearly 60% of its revenue in the first nine months of 2024 came from military applications. Steyr achieved a 36% revenue growth from 2022 to 2023 and aims for over 40% growth in 2025.

Mutares, which acquired Steyr in Q4 2022, has driven a successful turnaround, maintaining significant shareholder status. Steyr generates most of its revenue from Europe and plans to leverage the growing global defense market to increase sales.