Steyr Motors drives international expansion with new location in Dubai

Steyr Motors drives international expansion with new location in Dubai

• Strengthening its presence in the Middle East
• Global hub connecting Europe, Asia, and Africa
• Dynamic growth market offers revenue potential of several thousand engines

Steyr, Austria, 3 September 2025 – Steyr Motors AG (ISIN AT0000A3FW25), one of the world’s leading companies in the field of customized engines for mission-critical defense and civil applications, is consistently pursuing its international growth strategy by opening a new location in Dubai. This step strengthens the company's presence in the Middle East and lays the foundation for selling several thousand engines in the region over the coming years.

The Middle East plays a central role in Steyr Motors' international expansion. The region is investing heavily in infrastructure, security technologies, and maritime applications – all areas in which Steyr engines are well-established. The Middle East is a dynamic growth market and a geostrategic hub connecting Europe, Asia, and Africa. With a local presence, Steyr Motors can ensure both proximity to customers and a rapid market response. Due to the strong demand for powerful and reliable propulsion solutions in sectors such as marine, defense, and special vehicles, the Dubai location offers considerable sales potential.

Ian Norton will take over as head of the Dubai site. A renowned industry expert, Norton was most recently the CEO of Streit Group, a leading provider of armored vehicle solutions. Prior to that, he held senior positions at global engine manufacturer Cummins for many years.

“Our new location in Dubai is laying the foundation for sustainable growth in one of the world's most strategically important regions. We are delighted to welcome Ian Norton, a highly qualified manager with extensive international experience and in-depth market knowledge, to our team,” says Julian Cassutti, CEO of Steyr Motors.

This new location marks another milestone in Steyr Motors' global strategy: the aim is to access new markets, strengthen customer proximity, and meet long-term demand for innovative engine solutions.

Company profile of Steyr Motors AG

Headquartered in Steyr, Austria, Steyr Motors AG is a global leader in the development and production of high-performance customized special engines with high power density and durability. The Company’s engines are primarily used for military special vehicles, boats (both military and civilian) and as auxiliary power units (“APU”) for main battle tanks and locomotives. In the full year 2024, Steyr Motors generated an (adjusted) EBIT margin of 24%. For 2025, Steyr Motors is aiming for a year-on-year increase in revenue of at least 40%, an EBIT margin of above 20%, and a production volume of at least 1,250 units.

For more information, please contact:

Steyr Motors AG
Investor Relations
Phone: +436766222367
E-mail: ir@steyr-motors.com
www.steyr-motors.com

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