Czech defense manufacturer Excalibur Army reported a record-breaking year in 2024, with revenues soaring to 65.8 billion CZK and net profit tripling to 11.18 billion CZK. The company, part of the Czechoslovak Group (CSG), attributed this growth primarily to large-scale deliveries of heavy-caliber ammunition, exceeding 1.1 million units. However, the company also emphasized continued expansion in services, overhauls, and production of its own military equipment.

A significant portion of the company’s revenue came from markets outside the European Union, totaling nearly 42 billion CZK. Sales within the EU and the Czech Republic reached 14.4 billion CZK and 9.7 billion CZK, respectively. Key projects included the overhaul of T-72 tanks and BVP-2 infantry vehicles, as well as the delivery of modern artillery systems.

The ongoing conflict in Ukraine has sharply increased global demand for military equipment, contributing to Excalibur Army’s rapid growth. In response to rising demand, the company invested 650 million CZK in expanding its production facilities in Šternberk, including a new assembly hall focused on wheeled artillery systems and specialized military vehicles. This expansion is expected to create 200 new jobs.

The parent company, CSG, also experienced substantial growth, with net profit tripling to 526.1 million euros and revenues doubling to around 4 billion euros. The defense sector accounted for over 83% of total sales, driven by investments in production capacity across Slovakia, Spain, and the United States, as well as strong performance in the Ukrainian market.

Source: ceskenoviny.cz

Author: CzechTrade and CzechInvest Office in New York