Czech defense holding Czechoslovak Group (CSG) has doubled its revenue and EBITDA in 2024, according to the yearly financial report. CSG has also quadrupled its sales revenue in Ukraine, from €0.4 billion to €1.7 billion with Ukraine becoming its second largest market.
The country accounts for 42.8% of CSG’s revenue, almost equal to the markets of the rest of Europe, which, without Ukraine, brought in 43.5%.
Last year, CSG’s total consolidated revenues reached €4 billion, up 131% compared to 2023. The defense sector, in particular CSG Defense, accounted for the bulk of the revenue (83.6%), generating €3.3 billion (77.6% of total sales).
Ukraine is an important non-NATO market for CSG, and if Ukraine is included as a NATO ally, the share of NATO markets in the company’s sales increases from 49.6% to 92.4%.
“Europe is at an important stage when the defense industry is not just a sector of the economy, but the foundation of sovereignty and security. Our record-breaking result in 2024 demonstrates the company’s readiness to meet these challenges,” says Michal Strnad, owner and CEO of CSG.
The global industrial and technology group CSG, owned by Czech entrepreneur Michal Strnad, supplies technology around the world, contributing to a safer and more sustainable future.
The group focuses on the development and production of strategically important products, systems and technologies in the defense, aerospace, automotive and other sectors. The Group’s key production facilities are located in the Czech Republic, Slovakia, Spain, Italy, India, the United Kingdom, and the United States.
CSG companies have been supplying Ukraine with military equipment since the first days of Russia’s full-scale invasion. The Czech defense company Excalibur Army plays a key role in these supplies. Since March 2022, the company has supplied Ukraine with several hundred pieces of heavy equipment (tanks, infantry fighting vehicles, multiple launch rocket systems, self-propelled howitzers) and 1.6 million pieces of large-caliber ammunition.
In 2024, CSG together with Presto Ventures also announced the launch of Presto Tech Horizons, a €150 million investment fund that focuses on dual-use technologies: artificial intelligence, cybersecurity, and aerospace solutions.
The fund’s first investments were announced in October 2024 and included Vidar Systems, Tur.ai, and Bavovna, whose developments could strengthen CSG’s offerings in defense and security systems.
