KTM recovery continues

Motorbike producer KTM Power Sports AG has all chances of being back in the black this business year after seeing a rise in earnings in the first quarter.Stefan Pierer, head of the firm with headquarters in the Upper Austrian town of Mattighofen, said today (Fri) its earnings before interest and taxes (Ebit) in the third quarter of the current 2009/2010 business year reached 12.4 million Euros following losses of 56.7 million Euros in the same quarter of the previous business year.Pierer said he was optimistic about being in the black at the end of the business year thanks to “adapting capacities and lowering costs”.KTM – which is listed on the Vienna Stock Exchange (WBAG) – laid off 450 workers in the 2008/2009 business year following dwindling orders.Pierer said he expected his company to have built an overall 65,000 to 66,000 motorcycles and off-road vehicles at the end of this business year. Around 64,000 vehicles had left KTM’s conveyor belts in the 2008/2009 business year.The firm chief said he was convinced KTM’s focus on emerging markets such as India and Brazil will help the company to get back on track.