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KTM Power Sports AG

EANS-Adhoc: KTM Power Sports AG
Restructuring Completed in Fiscal Year 2008-09 - Capacities Adjusted to Future Market Environment

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
annual report
19.11.2009
Fiscal 2008-09
>> Turnover: EUR 454.6 million
>> Vehicle sales: 64,080
>> Earnings after restructuring costs: EUR -81.4 million
>> Equity ratio: 27.8%
>> Positive operating result expected in fiscal 2009-10
Tough restructuring completed in fiscal year 2008-09 The past fiscal 
year proved to be the most difficult in KTM's recent history. 
However, KTM responded with strong restructuring measures. In fact, 
one-off restructuring costs account for 80% of the negative EBIT. 
Despite the slump in the markets, above all in North America and 
Europe, KTM succeeded in maintaining its market position and 
increasing market shares.
Capacities adjusted to future market environment Capacities and 
overheads have been realigned to the reduced market level. In the 
past fiscal year, KTM had to axe over 450 jobs and used the existing 
short time working schemes in the period from May through September.
X-Bow to remain in KTM product portfolio, investment completely 
written down Due to the economic crisis, the original business model 
of X-Bow serial production was no longer feasible. Marketing and 
sales activities are now therefore integrated in the Mattighofen 
plant. KTM has written down all the serial production development 
costs and production tools totaling EUR 33.1 million. In X-Bow 
production, KTM has opted for a model often used in the high-end 
sports car sector, namely manufacture to order and customization on 
request. This has resulted in a shift from serial production to 
building cars to each individual customer's specifications.
Outlook: positive operating result in fiscal year 2009-10 KTM is 
still expecting the motorcycle market in general to decline in the 
2009-10 fiscal year. Thanks to new product developments, particularly
in the profitable core segment of off-road competition, a slight 
increase in sales can however be anticipated. A completely new 
motocross generation will be rolled out at the end of the 2009-10 
fiscal year. The new street models from the cooperation with Bajaj 
Auto Ltd. were presented to the public at the beginning of November. 
Given the cost cutting and optimization program, the Management Board
is expecting a positive operating result and a substantial 
improvement in free cash flow.
The 2008-09 annual report, 2008-09 financial statements and 2008-09 
corporate governance report are available for downloading on our 
website at www.ktm.com under Investor Relations > Investor Relations 
> Reports.
end of announcement                               euro adhoc

Further inquiry note:

KTM Power Sports AG
Mag. Wilfried Stock
Tel.: +43(0)7742/6000-216
mailto:wilfried.stock@ktm.com

Branche: Technology
ISIN: AT0000645403
WKN:
Index: mid market
Börsen: Wien / official market

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