CZG - Česká zbrojovka Group SE achieved revenues of CZK 2bn in 1Q 2021 (+63.7% year-on-year). EBITDA strengthened by 117.4% to CZK 438.2m. Capital expenditures totalled CZK 115.1m and headed mainly in production modernisation. The total number of weapons sold increased by 58.3% to 137,083. The results were mainly supported by higher sales in the USA. The local market accounted for 67.0% of total revenues. Revenues in the Czech Republic decreased by 8.9% to CZK 55.7m. In the period under review, Zbrojovka completed the acquisition of Colt Holding Company LLC. The proposed dividend is CZK 7.50 per share. Vice-chairman of the board Jan Drahota said that strong Q1 results and continued momentum in Q2 lead to an improvement in the full-year revenue outlook to CZK 10.64bn.
Prepared by the team of foreigner office CzechTrade Chicago