News

Czechoslovak Group (CSG), a leading industrial and technological holding company, has reported a significant financial performance for 2024, solidifying its position as Europe’s fastest-growing major defence company. The group’s audited consolidated revenues reached €4 billion, marking a 131% increase from €1.7 billion in 2023. Pro-forma revenues, which include the full-year performance of the recently acquired The Kinetic Group, totaled €5.2 billion.

The acquisition of The Kinetic Group, finalized in November 2024, contributed to a transformative year for CSG. Consolidated operating EBITDA reached €1.1 billion, up from €0.4 billion in 2023, reflecting a 146% increase and an improved EBITDA margin of 26.9%. Pro-forma operating EBITDA, including The Kinetic Group’s full-year results, was €1.4 billion. Net profit for 2024 rose to €526.1 million, a 202% increase from the previous year.

CSG’s strategic growth is driven by its CSG Defence division, which accounted for 77.6% of total sales, generating €3.3 billion in revenue. The acquisition of The Kinetic Group also positioned CSG as the most significant manufacturer of small-caliber ammunition in the USA and one of the largest globally. This move aligns with owner Michal Strnad’s ambition to establish CSG as one of Europe’s top two defence companies.

Michal Strnad, owner and Chairman of the Board of CSG, stated:
“Europe stands at a pivotal moment where the defence industry is no longer merely an economic sector—it is a cornerstone of our sovereignty and security. The dramatic rise in defence spending across the continent reflects a clear recognition of this reality, and CSG’s record-breaking results in 2024 prove we are ready to meet this historic challenge. Our growth is not just about numbers—it’s about ensuring that Europe’s democracies have the tools to protect freedom in an increasingly unstable world.
“Thanks to our acquisition of The Kinetic Group, we are now the most significant manufacturer of small-caliber ammunition in the USA and one of the largest globally, he added. “My ambition is to build CSG into one of the two most significant defence industry companies in Europe, a goal we are steadily approaching with every strategic step we take.”

Zdeněk Jurák, Member of the Board of Directors and Chief Financial Officer of CSG, noted:
“In 2024, CSG strengthened its position as Europe’s fastest-growing major defence company, more than doubling both revenue and EBITDA through organic growth and strategic investments. Our debt levels, which have remained low even after the landmark acquisition of The Kinetic Group, demonstrate strong cash flow and disciplined financial management. Lastly the Group’s backlog, exceeding €11 billion, underscores our ability to secure long-term contracts and our position as a trusted partner on global defence markets.”

CSG’s geographical revenue breakdown shows Europe (excluding Ukraine) contributing 43.5%, Ukraine 42.8%, the USA 6.7%, and other markets 7.0%. The group’s focus on NATO-aligned markets, including Ukraine, generated 92.4% of sales.

W: www.czechoslovakgroup.cz.