Czech defense holding Czechoslovak Group (CSG) quadrupled sales revenue in Ukraine in 2024, from EUR 0.4 billion to EUR 1.7 billion. Ukraine became the second largest market for CSG, providing 42.8% of revenue, and almost equaling in value to the markets of the rest of Europe, which, excluding Ukraine, brought in 43.5%.
Czech defense holding Czechoslovak Group (CSG) quadrupled sales revenue in Ukraine in 2024, from EUR 0.4 billion to EUR 1.7 billion. Ukraine became the second largest market for CSG, providing 42.8% of revenue, and almost equaling in value to the markets of the rest of Europe, which, excluding Ukraine, brought in 43.5%.
Last year, CSG's total consolidated revenues reached €4 billion, up 131% compared to 2023, according to the group's financial report. The defense sector accounted for the bulk of its revenue (83.6%), with the CSG Defence division generating €3.3 billion (77.6% of total sales). In 2024, the group acquired the American company The Kinetic Group, becoming the largest small arms manufacturer in the US and one of the largest in the world. By the end of 2024, CSG had grown to over 14,000 employees, spread across 37 production facilities in the EU and the US.
If we add the Ukrainian market to NATO-oriented sales, then
The share of such sales increases from 49.6% to 92.4%. This emphasizes the strategic importance of Ukraine for CSG Holding, which develops and supplies strategically important products, systems and technologies for
defense, aerospace, automotive and other sectors in more than 110 countries around the world, the Czech company's press release states.
Recall that CSG companies have been supplying Ukraine with military equipment since the first days of the full-scale invasion. Excalibur Army plays a leading role in these supplies. Since March 2022, the company has transferred several hundred units of heavy equipment (tanks, infantry fighting vehicles,
multiple launch rocket systems, self-propelled howitzers) and 1.6 million units of large-caliber ammunition.
In October 2024, Ukrainian Armored Vehicles signed a package of documents on cooperation with the Czech holding Czechoslovak Group (CSG). One agreement concerns the supply of components, and the other - licensing of ammunition production.
According to plans, in 2025, within the framework of cooperation between CSG and Ukrainian Armored Vehicles, 100,000 units of ammunition will be produced , and in 2026, the annual production volume will exceed 300,000 units.
In addition, in 2024, CSG also announced the launch of the Presto Tech Horizons (PTH) investment fund with a volume of up to €200 million, which will focus on dual-purpose technologies: artificial intelligence, cybersecurity
and aerospace solutions. The fund's first investments, announced in October 2024, include Vidar Systems and Bavovna, whose developments could strengthen CSG's offerings in defense and security systems.
