Rußbach, December 3, 2024
The board of RWT AG has just been made aware of the online article published on Motorsport-Total with the headline „As a result of insolvency: KTM stops development of the MotoGP bike!“ (URL on December 3, 2024, 10:45 AM CET: https://www.motorsport-total.com/motogp/news/als-folge-der-insolvenz-ktm-stoppt-die-entwicklung-des-motogp-bikes-24120301). The board has no way to verify the truthfulness of this information. Furthermore, no communications or information indicating changes to already issued orders have been received by the subsidiary RWT Hornegger & Thor GmbH to date. This aligns with the statement in the article: „KTM has never questioned participating in the 2025 MotoGP season.“
The article's mention of the development freeze of new MotoGP bikes could have an impact on the subsidiary's revenue that cannot currently be estimated. The effects depend on whether the current MotoGP bike models continue to be manufactured despite the development freeze.
The article, citing Dorna Sports, the MotoGP rights holder, states: „However, it has leaked from the offices of MotoGP rights holder Dorna that the championship promoter has serious doubts about seeing KTM in the field next year.“ This concern is countered in the article by reporting on the KTM Group's intention to absolutely remain in motorsport and MotoGP.
A withdrawal of KTM Racing GmbH from motorsport would have a currently incalculable but certainly significant impact on the sales revenues and earnings situation of RWT Hornegger & Thor GmbH, which could also have a significant impact on RWT AG, as on the one hand, the payment of dividends would be endangered and, on the other hand, it cannot be ruled out that the effects may necessitate a write-down of the investment in RWT Hornegger & Thor GmbH.
The Management Board currently has no way to assess whether and to what extent the possible developments mentioned in the article will actually occur and to what extent. In this respect, a concrete assessment of the effects is also not possible. In view of the fact that more than half of the annual turnover of RWT Hornegger & Thor GmbH is generated with KTM Racing GmbH, it was already necessary to report on the possible consequences, even though the Management Board cannot assess the probability of occurrence.
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This notification is a compulsory disclosure pursuant to Article 17 of the Market Abuse Regulation. This notification does not constitute an offer to sell or the solicitation of an offer to buy securities of RWT AG. Any future offering of the company’s securities will be made in compliance with and based on applicable capital market regulations.
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Reference for further questions and contact:
RWT AG
Gseng 90
A-5442 Russbach
Austria
Contact person:
+43 6242 471
r.thor@r-w-t.com