Steyr Motors AG: Q1 Results and Future Prospects

Steyr Motors AG has been reaffirmed with a "BUY" recommendation by NuWays AG, with a target price set at EUR 60 over the next 12 months. Despite weaker Q1 results, the company maintains a positive outlook for FY26. The first quarter saw sales of €11.7 million, only a 2% increase year-on-year, largely due to delays in larger orders from India and the Middle East. Geopolitical tensions were cited as a major factor, impacting high-margin projects.

Key developments include the U.S. Navy's reliance on Steyr engines for their RIB-class boats, supporting a growth narrative in mission-critical marine crafts. Additionally, USV demand is rising, backed by U.S. Navy budgeting, and Steyr’s acquisition of BUKH broadens its marine engine offerings.

The appointment of Björn Krausmann as CFO is expected to enhance operational capacity, aiding in Steyr’s scale-up plans and reinforcing their growth in the defence and marine sectors.