Czech CSG increased its sales by 614% because of the war in Ukraine.

Czechoslovak Group AS (CSG) increased its profit by 200% in 2024, driven by greater supplies to Ukraine and NATO countries. Since the onset of the full-scale Russian invasion of Ukraine, the Czech company’s sales have surged by 614%.

Last year, CSG, which manufactures artillery shells and combat vehicles, acquired Kinetic Group, an American owner of small-caliber ammunition brands. The Czech company aims to become one of the two largest defense firms in Europe. CSG’s net profit in 2024 soared to a record €526.1M, while revenue climbed by 131% to €4B.

The company is gearing up to commence full-scale production of artillery shells and TNT in Greece and to acquire a German producer of nitrocellulose, a vital component for the defense industry.

Meanwhile, following a record €20B loss in 2024, Porsche SE is exploring new business avenues. One possible route for expansion could be a return to the defense sector, where the company has previous experience. Porsche SE intends to allocate €2B for investment in military projects.