Steyr Motors cuts forecasts after reporting first-half loss

Steyr Motors, an Upper Austrian engine manufacturer, reported a loss of 1.2 million euros in the first half, ORF reported. The listed company also posted a slight decline in revenue and cut its 2026 forecast because of delays to international defence projects.

Operating performance was significantly weaker than in the same period a year earlier. Earnings before interest, taxes, depreciation and amortisation came to minus 275,000 euros, compared with a profit of 3.9 million euros in the first half of 2024.

Earnings before interest and taxes also fell into negative territory, reaching minus 1.1 million euros after a profit of 3.4 million euros in the previous-year period. Revenue declined from 23.1 million euros to 22.8 million euros.

Forecasts lowered

Steyr Motors said delays in public procurement, approval and acceptance processes were holding up international defence projects. The company now expects group revenue of between 56 million and 61 million euros in 2026, down from its previous forecast of 75 million to 95 million euros.

The expected EBIT margin was lowered from at least 15 percent to between 8 and 12 percent. The company also withdrew its previous medium-term forecast for 2027, which had projected revenue of about 140 million euros and EBIT of 40 million euros.

Steyr Motors said its order backlog had nevertheless continued to grow and now stood at 310 million euros. The company did not provide details of which international projects had been affected by the delays.