KTM Sales, Profits Up for Full-Year ‘03
November 12, 2004
Filed under Features
KTM posted after-tax profit of 26.8 million euro ($34.56 million) for fiscal 2003, which ended August 31, 2004 – 52% higher than profit from fiscal 2002.
The Austrian company sold 76,815 motorcycles worldwide compared to 70,514 in the previous year. Total revenue increased by 7% year-on-year to 402.4 million euro ($518.94 million).
As with most powersports OEMs, the U.S. is KTM’s largest market. The company’s earnings before interest and tax (EBIT) rose by 5% to 2.1 million euro ($2.71 million), despite the weak U.S. dollar.
Banking on consumer interest in its 990 Superduke and 950 Supermoto, KTM officials say they expect sales growth to continue in fiscal 2004 despite the unfavorable U.S. dollar exchange rates.