The CSG Group (CZechoslovak Group), a leading industrial and technology group, today announces its consolidated economic results for 2024, confirming its position as the fastest growing major defensive group in Europe.
At the same time, he publishes the pro-forma results, which incorporate the full annual performance of the Kinetic Group.
Basic performance indicators:
Note: CSG Group subsidiaries are divided into sectors under their main business object: Projects (companies outside the Group’s basic activities).
The Group’s Pro-Forma revenue for 2024, incorporating the full annual performance of the Kinetic Group, amounted to € 5.2 billion. The transaction with the Kinetic Group was completed in late November 2024, contributing only to the CSG Group’s consolidated revenue for 2024. As a result, the Group’s consolidated revenue amounted to 4 billion euros, increasing a 131% increase in € 1.7 billion in 2023, mainly due to strong growth.
The Pro-Forma Functional EBITDA, which incorporates the results of the Kinetic Group for the whole of 2024, reached 1.4 billion. Consolidated EBITDA, which incorporates only one month of Kinetic Group results, have more than doubled – € 1.1 billion from € 0.4 billion in 2023 (146%increase) – with EBITDA margin to improve by 26.9%.
Net profit for 2024 amounted to EUR 526.1 million, up 202% from € 174.1 million in 2023, reflecting excellent profitability.
The Group’s backlog of the group exceeded 11 billion. euro at the end of 2024.
Group’s debt remains low despite the acquisition of the Kinetic Group, with a fixed net debt to EBITDA at 1.3x.
Europe (excluding Ukraine) represented 43.5%of revenue, while Ukraine contributed 42.8%, highlighting CSG’s sovereignty in defense markets. The US offered revenue of 6.7%, reflecting only one month of the results. The rest of the countries contributed 7.0%.
NATO markets brought 49.6% of sales, while out-of-the-markets (mainly Ukraine) represented 50.4%. If we sort Ukraine as NATO ally, NATO sales increase to 92.4%.
The defensive sector contributed 83.6% of revenue, with the CSG Defense sector generating 77.6% of total sales (€ 3.3 billion), establishing its role as the Group’s main lever.
The number of employees increased to over 14,000, with most working in 37 production facilities, mainly in the EU and the US, while products are available in more than 110 countries worldwide.
Through the acquisition of the Kinetic Group, CSG has evolved into the largest small -diameter of the US ammunition in the US and one of the largest in the world.
Michal Stnad, owner and chairman of the Board of Directors of the CSG Group, has set up to make the group one of the two most important industrial groups in the defense industry in Europe through rapid growth and strategic acquisitions.
On the occasion of the announcement of the financial results, Michal Stnad, owner of the CSG Group said:
“Europe is going through a critical period where the defense industry is not just an area of economic activity, but a cornerstone of its sovereignty and security. The dramatic increase in defense spending across the continent reflects a clear recognition of this reality and the CSG Group’s record results for 2024 prove that we are ready to respond to this historical challenge. Our development is not just about numbers – it ensures that European democracies have the tools to protect their freedom in an increasingly unstable environment. “
“Thanks to the acquisition of the Kinetic Group, we are now the most important small caliber manufacturer in the US and one of the largest in the world. My ambition is to turn the CSG group into the two most important industrial groups in the defense industry in Europe, a goal we are getting closer to every strategic step we take. “
Zdeněk Jurák, a member of the Board of Directors and CSG’s financial director, noted:
“In 2024, the CSG Group reinforced its position as the fastest growing major defensive group in Europe, more than doubleing both its revenue and its EBITDA through organic growth and strategic investment. Low debt levels, even after the Kinetic Group’s acquisition-landmark, prove strong cash flow and disciplined financial management. The relentless balance of the group, exceeding 11 billion euros, highlights our ability to secure long -term contracts and our position as a reliable partner in world defense markets. “