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19. 11. 09. - 14:15

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19. 11. 09. - 14:15

KTM on loss-making off-road trip

By Thomas Hochwarter

Upper Austrian motorcycle and off-road vehicle maker KTM today (Thurs) said its past business year had been the "worst of all time" as it reported losses of 84.1 million Euros.

It also said turnover fell by 24.9 per cent from 605.7 million Euros to 454.6 million Euros in the past business year.

KTM bosses today claimed 80 per cent of the negative figures were down to "one-off restructuring measures" within the firm in response to the economic crisis.

Speaking about what led to the dramatic losses, CEO Stefan Pierer explained business in North America – KTM’s biggest market – shrank 44 per cent, while the European market contracted by a fifth.

But Pierer said he expected KTM to be in the black in the 2009/10 business year.

The Mattighofen-based company dismissed 450 employees in the 2008/09 business year, while 773 staff were put into a part-time scheme from May until September. KTM initially planned to keep the part-time model running longer, but ended it as orders grew faster than expected.

Austrian Times

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