Steyr Motors' strong outlook adds fuel to defence boom driven rally

Steyr Motors AG

18/03/2025 11:35

** Shares in Austrian engine and engine parts manufacturer Steyr Motors 4X0.VI extend their rally, up 62% on Tuesday and 288% since last Friday

** Steyr on Tuesday forecast 2025 revenue growth of at least 40% and an EBIT margin "well above 20%", as it published its annual results

** It signed a deal with Rheinmetall RHMG.DE subsidiary Rheinmetall Landsysteme on March 11, with traders seeing it as a second-tier beneficiary of the defence boom in Europe

** It also announced a framework agreement with a Brazilian customer on Friday, increasing its order backlog to almost 200 million euros ($218.6 million) by 2027

** The stock has gained 2,465% since the start of the year

($1 = 0.9149 euros)

 (Reporting by Bernadette Hogg and Paolo Laudani)

 ((bernadette.hogg@thomsonreuters.com))