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The industrial and technology group Czechoslovak Group (CSG) has announced record financial results for the first half of 2025, strengthening its position among Europe’s leading defence companies.

Revenues rose to EUR 2.8 billion, a year-on-year increase of 25 percent. Operating profit (EBITDA) reached EUR 777 million, with a margin of 27.6 percent, up 27 percent compared to the same period in 2024. The order backlog grew to EUR 14 billion, representing a 69 percent increase on the previous year.

“CSG continues its dynamic growth, and these record results confirm the strength of our long-term strategy. Our strong backlog, systematic investments in advanced technologies, and vertical integration are enabling us to ensure reliable deliveries and further develop our capacities,” said Zdeněk Jurák, Chief Financial Officer of CSG.

The group passed several milestones in the first half of 2025. It completed the acquisition of a nitrocellulose plant in Bomlitz, Germany, strengthening its vertical integration and securing long-term access to this strategic commodity for ammunition production. A joint venture with Greek state-owned company HDS was also finalised, expanding production capacities for medium- and large-calibre ammunition and ensuring long-term supplies of TNT.

In the US, the integration of The Kinetic Group was completed, further reinforcing CSG’s position in the small-calibre ammunition market. The group also acquired the remaining minority stake in Fiocchi Group, becoming its sole owner. At the IDET defence trade fair in Brno, CSG unveiled the prototype of the Pandur 8x8 Evo armoured vehicle, highlighting its ability to innovate and diversify its product portfolio.

Financial stability was supported by significant bond issuances. In the Czech Republic, CSG issued bonds worth CZK 10 billion, maturing in 2030 with a coupon of 5.75 percent. On international markets, the group issued USD 1 billion in bonds maturing in 2031 with a coupon of 6.5 percent, alongside EUR 1 billion in bonds maturing in 2031 with a coupon of 5.25 percent. Proceeds were used for refinancing and to support further growth.

About CSG

CSG is owned by Czech entrepreneur Michal Strnad and supplies technologies worldwide in defence, aerospace, automotive and other industries. The group’s companies include Czech vehicle manufacturer Tatra Trucks, Slovak artillery ammunition producer MSM Group, US small-calibre ammunition manufacturer The Kinetic Group, and Czech radar specialist Eldis.

Headquartered in the Czech Republic, CSG operates key facilities in Slovakia, Spain, Italy, India, the United Kingdom and the United States. The group employs over 14,000 people across its integrated and affiliated companies. In 2024, CSG’s consolidated revenues reached EUR 4 billion, with total revenue, including The Kinetic Group for the full year, standing at EUR 5.2 billion.