February 12 2010.

KTM has hit back at stories suggesting that Indian manufacturer Baja has agreed to increase it's share in the Austrian company from 30% to 90%.

'Not so' says the factory in a release today, pointing out that after a difficult year in 2008/2009,  the company has returned to the profit zone following successful restructuring measures and a turnover of  €110.7 million has resulted in a clear profit of €3.6 million for the first quarter of the current financial year.

Altogether 17,056 motorcycles were sold in the first quarter of 2009/10, down 15% compared to the previous year, but still better than most major competitiors. Inventory at both KTM and its dealers was also reduced by more than one third.

KTM Power Sports AG has issued an invitation to shareholders to attend an extraordinary general assembly on February 26, 2010, where the most important item on the agenda of the meeting is a resolution to further increase capital via the main shareholders by an additional €30-40 million.

The company states that this planned measure will not result in any changes to the 'industrial leadership' of CROSS Industries and KTM Powersports AG. CROSS Industries will continue to hold more than 50% of the shares in KTM Powersports AG.