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| 28.01.2010 |
| KTM is back in the black |
| In the first quarter of 2009/10, KTM achieved a consolidated EBIT in the amount of € 6.1m.
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 | EBIT: € 6.1 m , net profit: € 3.6 m (€ +31.5 m compared to the previous year)
| | Revenues: € 110.3 m (-16.6% compared to the previous year)
| | Free cash flow: € 15.4 m (€ +72.9 m compared to the previous year)
| | Sustainable effects of restructuring measures |
Earnings Development
After the toughest fiscal year in the company’s history (2008/09), the KTM Group is back in the black and achieved consolidated revenues in the amount of € 110.3 m (-16.6% compared to the previous year) and an EBIT of € 6.1 m (+36% compared to the previous year) in the first quarter of 2009/10. The net profit increased by € 31.5 m from € -27.9 m in the previous year to € 3.6 m.
KTM has developed favourably in the – still declining – motorcycle market compared to the current market trend and was able to gain market shares. In total, 17,056 motorcycles (-15% compared to the previous year) were sold in the first quarter of 2009/10. As at November 30th, 2009, we achieved a 36.5% reduction in KTM inventories and 21.3% in dealer inventories from the previous year.
Due to a positive free cash flow, net indebtedness could be reduced from € 243.4 m to € 228.5 m in the first quarter.
Sustainable effects of restructuring measures
KTM’s CEO Stefan Pierer stated the following: “The restructuring measures, which had to be implemented in the previous year, have already shown sustainable effects. For example, total costs could be reduced by more than 30% in the first quarter compared to the previous year – we are, thus, able to make profits again, even if the sales volume is lower.” |
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