The arms holding Czechoslovak Group AS (CSG) demonstrated an impressive profit growth of 200% in 2024, thanks to increased supplies to Ukraine and NATO countries. Since the beginning of Russia’s full-scale invasion of Ukraine, the sales of the Czech company have risen by 614%.
This is reported by Business • Media
CSG, which specializes in the production of artillery shells and combat vehicles, acquired Kinetic Group last year, an American owner of small-caliber ammunition brands. The company has ambitious plans to become one of the two largest defense firms in Europe. CSG’s net profit in 2024 reached a record €526.1 million, while revenue grew by 131%, totaling €4 billion.
New Plans and Investments by CSG
CSG is preparing to launch full-scale production of artillery shells and TNT in Greece, and also plans to acquire a German manufacturer of nitrocellulose, which is an important component for the arms industry.
Market Situation
Amid record losses of €20 billion in 2024, the holding Porsche SE is considering new business directions. One possible option is a return to the defense industry, in which the company already has experience. Porsche SE plans to allocate €2 billion for investment in military projects.