Colt CZ Group SE, parent of the Colt, CZ (Česká zbrojovka), Colt Canada, Sellier & Bellot, CZ-USA, Dan Wesson, SwissAA, Spuhr and 4M Systems brands, has reported that revenues for the first half (H1) increased 41.2 percent year-over-year (y/y) to CZK 9.69 billion, said to be mainly driven by sales growth in the second quarter of 2024 and the consolidation of the newly acquired ammunition maker Sellier & Bellot company as of May 16, 2024.

  • U.S. revenues in the first half of 2024 grew 30.2 percent y/y to CZK 4.19 billion, due to the consolidation of revenues from the new acquisition of Sellier & Bellot as of May 16, 2024, and a slight recovery in the commercial market in the market.
  • Canada revenues in for the first half amounted to CZK 488.7 million, which represents 49.7 percent y/y decline driven by one-off delivery to the Canadian government in connection with aid for Ukraine last year.
  • Europe revenues (excluding the Czech Republic) for the first half jumped 165.7 percent y/y, reaching CZK 1.95 billion, due to the consolidation of the new acquisition of Sellier & Bellot as of May 16, 2024, and the consolidation of revenues from the SwissAA Group.
  • Czech Republic revenues increased by 62.9 percent y/y in the first half, reaching CZK 2.24 billion.
  • Africa revenues declined 37.5 percent y/y to CZK 56.0 million in H1, said to be due to the seasonality of orders in the region.
  • Asia revenues increased 32.2 percent y/y to CZK 359.8 million for the first half.
  • Latin America revenues surged 238.1 percent y/y to CZK 392.8 million in the first half ended June 30.
  • Sales to other regions totaled CZK 15.9 million, down 81.6 percent year-over-year.

In the first half of 2024, there was a slight increase in the number of firearms sold, rising by 2.8 percent to 323,365 units.

“The first half of the year and the second quarter of 2024 were historically record-breaking for our company in terms of financial performance,” commented Jan Drahota, CEO and chairman of the Board, Colt CZ Group. “This result reflects not only the consolidation of the results from our new acquisition – Sellier & Bellot – but also organic growth, particularly in the USA, Europe, and the Czech Republic. We grew in the military and law enforcement market, and thanks to the acquisition of Sellier & Bellot, also in the newly reported ammunition and munitions segment.

Adjusted EBITDA in the first half amounted to CZK 1.98 billion, a 35.3 percent increase compared to the Adjusted EBITDA for the comparative H1 period last year.

Net profit for the six-month H1 period ended June 30 decreased 41.7 percent year-over-year to CZK 609.6 million.
The company said the decline was due to increased depreciation and amortization related to the acquisition of Sellier & Bellot and the revaluation of inventories also related to the S&B acquisition. At the same time, Colt said there was costs associated with stock release under the employee stock option plan and lower incomes from financial operations.

“We are very happy that more than 1,000 of our shareholders have decided to reinvest the dividends received from the 2023 financial results into further development of our Group. We see this as a great commitment in our daily decision-making and actions,” added Jan Drahota.

Image courtesy Sellier & Bellot