Bajaj Mobility AG Quarterly Report Q3/26: Group revenue exceeds EUR 1 billion after three quarters; EBIT up EUR 10 million to EUR 11.3 million in Q3/26

Corporate News           

Bajaj Mobility AG Quarterly Report Q3/26:

Group revenue exceeds EUR 1 billion after three quarters;

EBIT up EUR 10 million to EUR 11.3 million in Q3/26

• Group revenue reaches EUR 351.1 million (+57.0% vs. Q3/25)
• Motorcycle revenue¹ increases to EUR 288.3 million (+84.0% vs. Q3/25)
• Motorcycle sales¹ rise to 47,390 units (+51.1% vs. Q3/25)
• EBITDA: EUR 40.7 million (EUR -38 million² in Q3/25)
• EBITDA margin improves to 11.6% (-17.2%² in Q3/25)
• EBIT: EUR 11.3 million (EUR -71 million² in Q3/25)
• EBIT margin increases to 3.2% (-31.7%² in Q3/25)
• New KTM plant opened in Brazil

Mattighofen, November 3, 2026

In the third quarter of 2026, Bajaj Mobility AG built on the positive development of the previous quarter and further improved its profitability. After returning to positive EBITDA in the first quarter of 2026 and positive EBIT in the second quarter of 2026, the Group continued its encouraging earnings trend in the third quarter of 2026. Operating profit (EBIT) increased by around EUR 10 million compared with the second quarter to EUR 11.3 million (EUR -71 million² in Q3/25), reaching its highest quarterly level since the restructuring measures were completed. The EBITDA margin also improved further, rising to 11.6% (compared with -17.2%² in Q3/25).
 

The motorcycle business continued its positive development in the third quarter of 2026, recording significant growth in both revenue and sales volumes. Motorcycle sales rose by 51.1% to 47,390 units (compared with 31,362 units in Q3/25). Motorcycle revenue of the KTM, Husqvarna Motorcycles and GASGAS brands increased by an even stronger 84.0% to EUR 288.3 million, compared with EUR 156.6 million in Q3/25. Group revenue rose by 57.0% year over year to EUR 351.1 million (compared with EUR 223.6 million in Q3/25). In the first nine months of 2026, group revenue amounted to EUR 1,052.5 million (compared with EUR 648.8 million in Q3 YTD 2025).
 

The positive development also continued on a nine-month basis. A total of 136,363 motorcycles of the KTM, Husqvarna Motorcycles and GASGAS brands were sold, representing an increase of 75.4% compared with the prior-year period (77,748 units). Motorcycle revenue grew even more strongly, almost doubling during the same period to EUR 867.9 million (EUR 434.4 million in Q3 YTD 2025). In addition, 91,704 motorcycles¹ were sold directly by Bajaj in India (55,427 units in Q3 YTD 2025). This brought worldwide motorcycle sales of the KTM, Husqvarna Motorcycles and GASGAS brands to a total of 228,067 units after the first three quarters (133,175 units in Q3 YTD 2025).
 

Following the successful inventory reductions in previous quarters, global motorcycle inventories within the Group and at dealers and importers remained stable at a sustainably efficient level in the third quarter as well.
 

Despite significant revenue growth, Bajaj Mobility AG reduced its overhead costs by EUR 96.9 million to EUR 255.1 million in the first nine months of 2026 compared with the prior-year period (excluding the restructuring gain and the deconsolidation effect of MV Agusta). This was primarily driven by savings in administrative and infrastructure costs as well as lower sales and marketing expenses. The workforce reduction initiated in the first quarter was fully completed in the third quarter; in addition, the corporate and organizational structures were further streamlined.
 

CFO Petra Preining: “After our first positive operating EBIT in the second quarter of 2026, we were able to increase profitability significantly again in the third quarter. At the same time, we further improved our cost structure and kept inventories at a sustainably efficient level. This development confirms that we have implemented the right measures and can build on a solid financial foundation.”
 

Major motorsport successes in the third quarter of 2026

The sporting successes underscore the strategic importance of motorsport as a development platform for technologies closely related to series production and as a global driver of brand recognition and image.

• With Pedro Acosta’s win at KTM’s home Grand Prix, KTM celebrates its first victory in the premier class since 2022.
• Josep Garcia becomes the 2026 FIM EnduroGP World Champion while also defending his Enduro1 world title.
• Andrea Verona wins the 2026 Enduro2 world title for KTM.
• KTM secures the manufacturers’ world titles in EnduroGP, Enduro1 and Enduro2.
• Manuel Lettenbichler wins Red Bull Romaniacs 2026, setting a new record with his seventh overall victory.

CEO Gottfried Neumeister: “The results of the third quarter confirm the strength of our brands and our product portfolio. At the same time, we are looking ahead: With new models, a groundbreaking technology premiere at EICMA and a clear focus on innovation, we are consistently investing in the future of motorcycling. Our goal is not only to further expand our market position, but to actively help shape the technological development of our industry.”
 

KTM strengthens presence in Brazil

With the opening of the new KTM plant in Manaus on October 14, 2026, Bajaj Mobility AG is strengthening its presence in one of the most important motorcycle markets in Latin America. The facility is KTM’s first wholly owned assembly plant outside Austria and covers both vehicle and engine assembly. Operating on a single shift, the plant has a production capacity of approximately 10,000 motorcycles per year. Production is intended exclusively for the Brazilian market; production at the Austrian site in Mattighofen remains unaffected. KTM has invested around EUR 3 million in the facility to date, with an additional investment of approximately EUR 2 million planned for 2027 and 2028.
 

Outlook 2026

For the remainder of the fiscal year, the focus is on sustainably increasing profitability and improving free cash flow. To achieve this, Bajaj Mobility AG will continue to optimize its cost and organizational structures, sharpen its focus on managing its product and project portfolio, and keep inventories at a sustainably efficient level. At the same time, management is monitoring geopolitical and macroeconomic conditions as well as potential changes to trade and tariff regulations. Fluctuations in demand or supply chain constraints could affect further development.

About Bajaj Mobility AG

Bajaj Mobility AG is a global leader in premium motorcycles and the listed subsidiary of Bajaj Auto Limited, the world’s most valuable two‑ and three‑wheeler company. As the holding company of KTM AG, Bajaj Mobility AG brings together some of the most iconic and performance‑driven brands in the global motorcycle industry – KTM, Husqvarna Motorcycles and GASGAS. Headquartered in Austria, the company represents a pinnacle of European engineering excellence across high‑performance racing motorcycles, street and offroad bikes, and travel‑oriented models, complemented by premium WP components. With an established presence across these segments and a trusted rider base in more than 70 countries, Bajaj Mobility AG is recognized for its innovative engineering and strong product portfolio. Through its parent Bajaj Auto Limited, the group benefits from extensive technological expertise and a worldwide distribution network, enabling decisive execution and long‑term value creation. Together, the group continues to set benchmarks in performance, quality, and global reach across the international motorcycle industry.

For further information

Investor Relations

Mag. Christoph Brennsteiner, MBA

Tel: +43 676 7912567

Email: ir@bajajmobility.com

Website: https://www.bajajmobility.com

ISIN: AT0000KTMI02; Swiss Valor Number (Switzerland): 41860974; Ticker symbol: BMAG; Bloomberg: BMAG SW, BMAG AV; Reuters: BMAG.S, BMAG.VI

^[1] Of the KTM, Husqvarna and GASGAS brands

^[2] Adjusted for the restructuring gain of EUR 7,164 thousand