Annual Report 2024

CSG more than doubles revenue and EBITDA in 2024, solidifying position as Europe’s fastest-growing major defence company

Download Annual Report 2024

CSG Reinforced Its Status as the Fastest-Growing Major Defence Company in Europe

In 2024, CSG strengthened its leadership in the global defence industry by expanding production capacity and enhancing operational efficiency. Revenues from Ukraine quadrupled to €1.7 billion from €0.4 billion. In European Union markets, CSG saw a 90% increase in revenues, reaching €1 billion, while in its home market of the Czech Republic, revenues nearly doubled to €0.5 billion. The acquisition of The Kinetic Group increased US revenues. Pro-forma figures indicate a potential annual contribution of €1.3 billion. Consolidated figures, which include only one month of The Kinetic Group’s results (December), show a 16% revenue increase to €0.3 billion.

Consolidated Revenues

4.0

B EUR

A 131% increase from €1.7 billion in 2023

Consolidated Operating EBITDA

1.1

B EUR

A 146% increase from €0.4 billion in 2023

EBITDA Margin

26.9

%

Stable above 25%

Pro-forma Revenues

5.2

B EUR

Revenues (pro-forma with The Kinetic Group for the full year)

Pro-forma Operating EBITDA

1.4

B EUR

Operating EBITDA (pro-forma with The Kinetic Group for the full year)

Backlog

11+

B EUR

A Foundation for Future Growth

Strategic Growth and Global Expansion

Europe stands at a pivotal moment where the defence industry is no longer just an economic sector but 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.

Zdeněk Jurák
Chief Financial Officer

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 low debt levels, even after the landmark acquisition of The Kinetic Group, demonstrate strong cash flow and disciplined financial management. The Group’s backlog, exceeding €11 billion, underscores our ability to secure long-term contracts and our position as a trusted partner in global defence markets.

Petr Formánek
Chief Investment Officer

Thanks to the acquisition of The Kinetic Group, we have become a leader in small-caliber ammunition manufacturing in the Western market. This strategic move has not only diversified our business but also strengthened our position as a key supplier to NATO armed forces and their allies. We are investing in innovation, expanding our production capabilities, and reinforcing our global network — all with the goal of ensuring the long-term stability and growth of the entire CSG Group.

Serge Damian
Chief Sustainability Officer

As part of our ESG efforts, we are reporting for the first time in accordance with the requirements of the CSRD directive and the European ESRS standards. This important milestone reflects the Group’s increasing focus on transparency and a responsible approach to managing environmental, social, and governance aspects of our business. CSG has also carried out a detailed calculation of its carbon footprint across all emission categories – Scopes 1, 2, and 3. All non-financial information has been verified by an independent auditor.

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