KTM reports encouraging figures: half-year forecast was even exceeded

Positive news has emerged from the eagerly awaited official statement on the first half of the 2026 financial year from motorbike manufacturer KTM. The company, now known as Bajaj Mobility AG, continued its operational recovery in the first half of 2026 and achieved a significant improvement in key financial indicators compared with the same period last year.

Accordingly, consolidated turnover rose by 65.0 per cent to 701.4 million euros – 370 million of which was generated in the second quarter. By way of comparison: in the first half of 2025, KTM generated revenue of 425.2 million. Motorcycle revenue from the KTM, Husqvarna and GASGAS brands rose by 109.1 per cent to 579.6 million euros. Motorcycle sales rose by 91.9 per cent to 89,004 units. 48,672 were sold in the second quarter of 2026, compared with 28,741 units in the same period of 2025.

In addition, 58,568 motorbikes were sold in India directly by the parent company, Bajaj Auto Ltd. In total, 147,572 motorbikes were therefore sold worldwide in the first half of the year. EBITDA (earnings before interest, tax and depreciation) improved to €37.6 million in the first half of 2026. In the previous year, it had been a loss of €183 million – although at that time, the insolvency gain was ultimately offset against this figure. EBIT improved in the first half of 2026 to a loss of 24.8 million, having stood at a loss of 256.3 million in 2025.

The EBITDA margin stood at 5.4 per cent in the first half of 2026. In the second quarter of 2026, EBITDA of €32 million was reported, bringing the margin up to 8.7 per cent. Important: EBIT moved into positive territory and improved by 166 million euros in the second quarter of 2026, rising from a loss of 164.7 million to a profit of 1.3 million, marking the first time it has been positive since the conclusion of the insolvency restructuring proceedings.

Free cash flow improved in the first half of 2026 to a loss of 22.1 million euros, having stood at a loss of 38.5 million in 2025. Equity currently stands at 339.9 million euros and the equity ratio at 21.5 per cent. Global stock levels of the Group’s and dealers’ motorcycles have been reduced by a total of 10,190 units since the start of the year and brought to a stable level. Furthermore, the refinancing of the wholly-owned subsidiary KTM AG, amounting to over 550 million euros, strengthened the Group’s financial base and reduced the ongoing interest burden in the second quarter.