Steyr Motors Q1 revenue rises on defence sector demand

Austrian engine maker Steyr Motors saw a 26 per cent increase in first-quarter orders boosted by strong demand from the defence sector, it said on Wednesday.

Revenue for the quarter increased to 11.5 million euros ($12.87 million), compared with 9.1 million euros in the same period last year, it said.

The defence sector contributed 59 per cent of revenue in the quarter, helped by strong demand for high-performance power units, it added.