CSG has released an overview of its financial and operational performance for the first quarter ending 31 March 2026, highlighting continued expansion across its core defence activities.
Key Financial Highlights
- Group revenue reached €1.544 billion, representing a 13.8% increase compared to the same period last year, supported by robust demand across the company’s principal Defence Systems divisions. Revenue within Defence Systems alone grew by 26.5%.
- The company’s order backlog climbed to €17 billion, up 15.1% from €15 billion recorded at the end of December 2025, with Land Systems contributing significantly to the increase. In addition, the value of projects currently under negotiation stands at €27 billion.
- Operating EBIT rose 8.7% year-on-year to €372 million, delivering a margin of 24.1%, consistent with the company’s expected guidance range. Defence Systems achieved a margin of 28.5%.
- Pre-tax operating cash flow improved by €476 million compared with Q1 2025, despite planned investments in working capital intended to support higher production capacity and future growth.
- Management expects cash flow performance to gradually align with full-year guidance over the remainder of 2026.
- Net debt totaled €2.228 billion, while the ratio of Net Debt to Last Twelve Months (LTM) Operating EBITDA remained at a healthy 1.3x.
- CSG has reaffirmed both its full-year 2026 outlook and medium-term financial guidance.
The complete Q1 2026 Trading Statement is available here.