KTM announce €84.1M loss
Added on Thursday, December 3rd, 2009 by Carole Nash Editor | No Comments
KTM announce €84.1M loss
Austrian manufacturer KTM have revealed an €81.4m loss for the last financial year, although bosses have claimed that the figure does not reflect the full picture.
KTM have claimed that the loss, equivalent to £73.5m, is largely down to one-off restructuring costs that the company incurred, with the company claiming that €33.1m of that deficit was due to cash “written-off” in relation to the X-Bow car project
“The last 12 months have been hard for the whole industry and KTM has suffered like every other manufacturer,” said KTM UK managing director Shaun Sisterson. “But we have learned some lessons and made suitable adjustments to give us a firm foundation for the future.
“Eighty per cent of the published loss can be accounted for in one-off restructuring costs, which includes the writing off of €33.1millions of development and tooling costs associated with the X-Bow car project.
“For 2010 KTM expects a slight increase in overall sales with the introduction of the new motocross and 125cc street models and we expect a positive operating result for the business year. As we approach the end of our first financial quarter the early signs are that this is achievable.”
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