Colt CZ Group increased total revenues by 41.2% to CZK 9.7 billion in the first half of 2024
Prague (September 12, 2024) ― Colt CZ Group SE ("Colt CZ" or the "Group") today announced its consolidated unaudited financial results for the first half of 2024 ending June 30.
Key financial figures for the first half of 2024:
▶ The Group's revenues for the first half of 2024 reached CZK 9,690 million, up by 41.2% year-on-year. The increase was driven by sales growth in the second quarter of 2024 and the consolidation of the newly acquired Sellier & Bellot company as of May 16, 2024.
▶ Adjusted EBITDA in the first half of 2024 amounted to CZK 1,980.8 million, which is 35.3% higher compared to the Adjusted EBITDA for the same period last year.
▶ Net profit for the six months ending June 30, 2024, decreased by 41.7% compared to the same period in 2023, reaching CZK 609.6 million. This was due to increased depreciation and amortization related to the acquisition of Sellier & Bellot and the revaluation of inventories also related to this acquisition. At the same time costs associated with stock release under the employee stock option plan and lower incomes from financial operations.
▶ In the first half of 2024, there was a slight increase in the number of firearms sold, rising by 2.8% to 323,365 units.
The first half of the year and the second quarter of 2024 were historically record-breaking for our company in terms of financial performance. This result reflects not only the consolidation of the results from our new acquisition – Sellier & Bellot – but also organic growth, particularly in the USA, Europe, and the Czech Republic. We grew in the military and law enforcement market, and thanks to the acquisition of Sellier & Bellot, also in the newly reported ammunition and munitions segment," commented Jan Drahota, CEO and Chairman of the Board of Colt CZ Group. "We are very happy that more than 1,000 of our shareholders have decided to reinvest the dividends received from the 2023 financial results into further development of our Group. We see this as a great commitment in our daily decision-making and actions," added Jan Drahota.
As of June 30, 2024, revenues in the Czech Republic increased by 62.9%, reaching CZK 2,235.3 million.
Revenues from sales in the United States in the first half of 2024 as of June 30, 2024, grew year-on-year by 30.2%, reaching CZK 4,191.6 million, thanks to the consolidation of revenues from the new acquisition of Sellier & Bellot as of May 16, 2024, and a slight recovery in the commercial market in the USA.
Revenues in Canada for the first half of 2024 amounted to CZK 488.7 million, which represents 49.7% year on year decline driven by one-off delivery to the Canadian government in connection with aid for Ukraine last year.
Revenues achieved in Europe (excluding the Czech Republic) for the six months ending June 30, 2024, rose by 165.7%, reaching CZK 1,949.7 million, due to the consolidation of the new acquisition of Sellier & Bellot as of May 16, 2024, and the consolidation of revenues from the swissAA Group.
Revenues in Africa declined by 37.5% for the six months ending June 30, 2024, to CZK 56.0 million, due to the seasonality of orders in this region. Revenues in Asia increased by 32.2% for the six months ending June 30, 2024, reaching CZK 359.8 million.
Colt CZ is now reporting Latin America as a new region, where sales for the first six months of 2024 amounted to CZK 392.8 million, up 238.1% year-on-year. Sales to other regions totaled CZK 15.9 million, down 81.6% year-on-year.
About Colt CZ Group SE
Colt CZ Group (Colt CZ) is one of the leading producers of firearms and ammunition for military and law enforcement, personal defense, hunting, sport shooting, and other commercial use. It sells its products mainly under the Colt, CZ (Česká zbrojovka), Colt Canada, Sellier & Bellot, CZ-USA, Dan Wesson, swissAA, Spuhr and 4M Systems brands.
Colt CZ Group is headquartered in the Czech Republic and employs more than 3,600 people in its production facilities in the Czech Republic, the United States, Canada, Sweden, Switzerland, and Hungary. Colt CZ has been listed on the Prague Stock Exchange since 2020 and the majority shareholder is Česká zbrojovka Partners SE holding.
Contact for media Contact for investors
Eva Svobodová Klára Šípová
External Relations Director Investor Relations
Colt CZ Group SE Colt CZ Group SE
Tel.: +420 735 793 656 Tel.: +420 724 255 715
email: media@coltczgroup.com email: sipova@coltczgroup.com