CSG More Than Doubled Revenues and EBITDA in 2024, Solidifying Its Position as Europe’s Fastest-Growing Major Defence Company
The industrial-technological group Czechoslovak Group (CSG) announced its audited consolidated financial results for 2024 and simultaneously released pro-forma results incorporating the full-year performance of The Kinetic Group.
Pro-forma revenues of the Group, including The Kinetic Group for the full year 2024, reached €5.2 billion. The Kinetic Group transaction was finalized at the end of November 2024 and contributed only one month to the consolidated revenues of the CSG Group for 2024. As a result, the Group’s consolidated revenues reached €4 billion, representing a 131% increase compared to €1.7 billion in 2023, driven primarily by strong organic growth.
• Revenues: €4.0bn (+131% YoY)
• Pro-forma revenues with The Kinetic Group: €5.2bn
• Operating EBITDA: €1.1bn (+146% YoY)
• Pro-forma Operating EBITDA with The Kinetic Group: €1.4bn
• Operating EBITDA margin: 26.9%
• Net leverage: 1.3x
Michal Strnad, Owner of CSG, sad: “Europe is in a pivotal period where the defence industry is no longer just an economic sector but a cornerstone of our sovereignty and security. The dramatic rise in defence spending across the continent reflects a clear understanding of this reality, and CSG’s record results in 2024 prove we are ready to meet this historic challenge. Our growth is more than numbers—it’s about ensuring European democracies have the tools to protect freedom in an increasingly unstable world.”
Michal Strnad’s vision for CSG is clear: to position CSG among Europe’s top two defense industry players. Sustained growth, strategic investments and initiatives, and a commitment to innovation continue to drive our performance. None of this would be possible without the dedication of our 14,000+ employees across the group – thank you for pushing Czechoslovak Group forward and strengthening security in an uncertain world.
Petar Miljkovic, CEO of “14. oktobar”, member of CSG, reacted to the announcement: “It is simply amazing to work and watch the growth of our group not only financially but at all levels of business. It is an honor and privilege to be part of such a team. I congratulate my colleagues from Czechoslovak Group on the incredible result.”
You can read more on the report and download it here: https://czechoslovakgroup.com/en/news/csg-annual-report-2024
