9M 2023 Financial Highlights:
- The Group's revenues in the first nine months of 2023 amounted to CZK 9.9 billion, down by 3.0% y-o-y, mainly due to the higher seasonality of military and law enforcement (M/LE) sales, impact of FX translation of USD and EUR into CZK and also the decline of some product segments on the US commercial market.
- Adjusted EBITDA reached CZK 1.9 billion, down by 17.3% y-o-y for the first nine months of 2023.
- Adjusted net profit for the first nine months of 2023 reached CZK 1.5 billion, which is 1.5% more compared to the same period in 2022, due to the positive results from financial operations at the back of the gains from the derivative transactions.
- The number of firearms sold in the first nine months of 2023 declined by 12.2% compared to the same period in 2022 and reached 449 thous. units sold.
"The results for the first nine months of this year continued to be affected by the higher seasonality in the military and law enforcement segment, strong CZK against USD and EUR, and further slowdown of the US commercial market impacting CZ-brand products. This development is not unexpected for us, and we have responded to it with several operational and cost-cutting measures. The recovery of the US commercial market has been slower than originally anticipated and we have, therefore, decided to revise our full year guidance for revenues and EBITDA," commented Jan Drahota, CEO and Chairman of the Board of Directors of Colt CZ Group.
Full press release: https://www.coltczgroup.com/en/media-press-releases/colt-cz-group-se-increased-its-net-profit-by-158-to-czk-15-billion-in-the-first-nine-months-of-2023
About Colt CZ Group SE
Colt CZ Group (Colt CZ) is one of the leading producers of firearms and ammunition for military and law enforcement, personal defense, hunting, sport shooting, and other commercial use. It markets and sells its products mainly under the Colt, CZ (Ceská zbrojovka), Colt Canada, CZ-USA, Dan Wesson, Spuhr, swissAA and 4M Systems brands.
Colt CZ Group is headquartered in the Czech Republic and employs more than 2,000 people in its production facilities in the Czech Republic, the United States, Canada, Sweden, Switzerland, and Hungary. Colt CZ is owned by Ceská zbrojovka Partners SE from 76.2%, with the remaining 23.8% being a free float.
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