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Austrian motorbike maker KTM profits race to record

2019-01-29 13:49
KTM bikes in a row

Image: iStock

European's leading motorbike maker, KTM, booked record profits last year as it lifted sales and expanded its market share, according to preliminary figures obtained by AFP on Tuesday.

KTM, based in Mattighofen close to the German border, said its net profit climbed by 28% to €108 million ($124 million) in 2018 as unit sales jumped by 10% to 261 454 motorcycles.

Rising market share

Turnover edged up by 2% to €1.56 billion.

READ: The KTM RC 390 blows any 'small bike' misconceptions totally out of the water

And the group, whose brands include KTM and Husqvarna, said its market share grew to 11.7% from 8.9%.

KTM said it is targeting annual sales of 400 000 units by 2022, which would represent an increase of 50% over the 2018 figures, with growth coming from emerging economies such as India.

KTM bikes in a row

                                                                              Image: iStock

KTM acquired the Husqvarna brand from German rival BMW in 2013.

It produces the majority of its motorbikes at the plant in Mattighofen and exports more than 90% of its output.

The group, which employs a workforce of 4 300, is listed on the Vienna stock exchange but remains 62% owned by its chief executive, Stefan Pierer.

Read more on:    ktm  |  bmw  |  vienna  |  austria  |  industry news

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