The industrial and technology group Czechoslovak Group (CSG) achieved record financial results in the first half of 2025, confirming its position among Europe’s leading defence companies.
Key Financial Highlights
“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.
CSG passed several milestones in the first half of 2025. The Group 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. The Group also finalized a joint venture agreement with the Greek state-owned company HDS, which will increase production capacities for medium- and large-caliber ammunition and secure long-term supplies of TNT. The integration of the U.S. company The Kinetic Group was completed, strengthening CSG’s position in the American small-caliber ammunition market. CSG also acquired the remaining minority stake in Fiocchi Group, becoming its sole owner. Lastly, at the IDET defence trade fair in Brno, CSG unveiled the prototype of the new Pandur 8x8 Evo armored vehicle, underscoring the Group’s ability to innovate and expand its product portfolio.
The Group’s financial stability was further supported by bond issuances. In the Czech Republic, CSG issued bonds worth CZK 10 billion, maturing in 2030 with a coupon of 5.75 percent—that is, paying 5.75 percent annual interest. On international markets, the Group issued USD 1 billion in bonds maturing in 2031 with a coupon of 6.5 percent, as well as EUR 1 billion in bonds maturing in 2031 with a coupon of 5.25 percent. The proceeds were used for refinancing and to support the Group’s further growth.
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