Matt Atlas

CZG Reports Record Revenues In First 9 Months Of 2020

CZG Group – Česká zbrojovka Group SE (CZG) reported record revenues of five billion crowns in the first three quarters of 2020. A year-on-year increase of 10.2 percent, thanks to a higher number of weapons sold and higher demand, especially in the US. The holding company also recorded a year-on-year increase of 10.2 percent in the first nine months of the year in the case of the operating profit, which amounted to CZK 815.7 million.

“The number of weapons sold in the first three quarters of 2020 increased compared to the same period in 2019 and reached 337,489 units sold, which is a year-on-year increase of 18.1 percent,” Svobodová said. From January to the end of September, US revenues accounted for 70 percent of its total revenues. Revenues in Europe, except for the Czech Republic, accounted for another 9.7 percent, while the share was 6.8 percent in the Czech Republic. Asia’s revenue share was 6.2 percent, Africa was 4.4 percent, and the rest of the world 2.9 percent.

According to Jan Drahota, Deputy Chairman of the Board of Directors of CZG, the group grows significantly. “The results achieved are strong in all key indicators, especially in revenue, operating profit, number of weapons sold and produced. We are in a period of unprecedented global uncertainty associated with the covid-19 pandemic,” Drahota said.

Jan Zajíc, who is also the Chairman of the Board of Directors and CEO of the subsidiary Česká zbrojovka from Uherský Brod in the Uherské Hradiště Region, will be a new member of the CZG Board of Directors with effect from today. He replaced Ladislav Britaňák on the CZG Board of Directors, who resigned.

For the whole of last year, the CZG holding reported sales of CZK 5.96 billion and a net profit of CZK 734 million. The group manufactures small arms for the armed forces, personal defense, hunting, sport shooting, and other civilian uses. It sells them under the CZ (Česká zbrojovka) brand, which has a history of more than eighty years, and also under the CZ-USA, Dan Wesson, Brno Rifles, or 4M Systems brands.

In addition to Česká zbrojovka, the group includes CZ-USA, 4M Systems, and CZ Export Praha. The holding also holds a minority stake in Spuhr i Dalby, a Swedish manufacturer of optical mounting solutions for weapons. The group employs approximately 1,625 people in the Czech Republic, the USA, and Germany.