NuWays AG Issues "Buy" Recommendation for Steyr Motors AG

Steyr Motors AG has been classified with a "buy" recommendation by NuWays AG. The target price is set at EUR 59, with a 12-month horizon. Preliminary results for 2025 show a promising acceleration in growth. Fourth-quarter sales increased by 20% year-on-year, reaching €14.1 million. For the full year, sales rose by 16% to €48.5 million, driven by a 22% increase in civil sales and a 13% rise in defense-related sales. However, EBIT growth was impacted by one-off costs.

The company forecasts sales of €75-95 million in 2026, indicating substantial growth, fueled by backlog conversions and potential new contracts, including a possible agreement concerning the Leopard 2. Additionally, Steyr Motors has entered the Singapore defense market and signed a five-year framework agreement with Tryson in China, emphasizing its international expansion strategy.