Industry

KTM announce 81.4 million euro loss

"Eighty per cent of the published loss can be accounted for in one-off restructuring costs," says UK MD

AUSTRIAN BIKE manufacturer KTM has recorded an 81.4 million euro loss for the last financial year, the company has revealed.

“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.”

Despite the depressing figures, Sisterson points to a few of the underlying details to explain the company's massive loss.

“Eighty per cent of the published loss can be accounted for in one-off restructuring costs, which includes the writing off of 33.1 million euros 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.”

Earlier this week, Visordown reported the news that Japan's motorcycle export market was down over 50 per cent.

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