Czechoslovak Group

What Czechoslovak Group does

Czechoslovak Group (CSG) is a Czech-anchored industrial and technology holding group that organizes two main operating divisions: Defence Systems and Ammo+. The Defence Systems division encompasses land systems (Tatra Defence Vehicle, Tatra Trucks, Excalibur Army), medium- and large-caliber ammunition (MSM Group, ZVS Holding, VOP Nováky, Fábrica de Municiones de Granada), aerospace and defense electronics (ELDIS Pardubice radars, RETIA, ATRAK, CS SOFT), and advanced systems including unmanned aerial systems (AviaNera Technologies). The Ammo+ division consolidates small-caliber ammunition through The Kinetic Group (Federal, Remington, CCI, Speer, Hevi-Shot) and Fiocchi Munizioni. The group also markets innovation-adjacent products such as GREEN CORE biodegradable ammunition and the Emergency Water from Air (EWA) device.

The portfolio is built around defense manufacturing, with 39 production facilities across 8 countries and 14,000+ employees. CSG's market position includes #1 globally in small-caliber ammunition, #2 in Europe for medium- and large-caliber ammunition, and leading positions in Central European heavy off-road vehicles and air traffic control electronics. Notable proprietary platforms include the Pandur 8x8 EVO armored vehicle (with Elbit Systems turret integration and Cummins powertrain), ReTwis 5+ through-wall radar, and the new ZVS Holding large-caliber production line in Slovakia. CSG owns heritage brands including Tatra Trucks (170+ years), FMG (700 years of gunpowder tradition), Federal, Remington, CCI, Speer, Fiocchi, Armi Perazzi, and Baschieri & Pellagri.

CSG generates revenue predominantly through B2B sales to government defense customers. Approximately 68% of revenue is derived from NATO member states, with Ukraine as a major customer for ammunition and defense equipment. Distribution spans direct government procurement contracts, a €58 billion seven-year framework with the Slovak Republic Ministry of Defence, export agencies (Excalibur International, Czechoslovak Export), licensed ammunition dealers in the US and Europe, and Tatra dealer networks across 70+ export markets. Revenue streams include hardware sales (defense systems, ammunition, vehicles) and professional services (aerospace MRO through JOB AIR Technic). Following its January 2026 IPO on Euronext Amsterdam, CSG is the largest pure-play defense company by market capitalization, with FY 2025 revenue of €6.7 billion, €872 million in net profit, and €14 billion in order backlog.

Name

Czechoslovak Group

Legal name

Czechoslovak Group a.s.

Website

https://czechoslovakgroup.com

Company type

Public

Founded year

1995

Operating status

Ipo

Headcount range

5,001–10,000 employees

Short description

Czechoslovak Group is a Czech industrial and technology holding company operating two divisions—Defence Systems and Ammo+—producing medium- and small-caliber ammunition, armored vehicles, radars, air traffic control systems, and UAS, primarily selling to NATO governments and Ukraine across 70+ countries.

Ownership category

akta.pro rank

Product category

Defense Manufacturing

NAICS

Ammunition (except Small Arms) Manufacturing (332993), Small Arms Ammunition Manufacturing (332992), Military Armored Vehicle, Tank, and Tank Component Manufacturing (336992), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511), Guided Missile and Space Vehicle Manufacturing (336414)

SIC

Ordnance & Accessories, (No Vehicles/Guided Missiles) (3480), Guided Missiles & Space Vehicles & Parts (3760), Search, Detection, Navagation, Guidance, Aeronautical Sys (3812), Aircraft (3721)

akta.pro primary industry

Ammunition Manufacturing (Small-, Medium- & Large-Caliber) (IMABAHAG)

akta.pro secondary industries

Artillery, Mortar & Tank Munitions (IMABAHAH), Armored Reconnaissance & Scout Vehicles (IMABAJAF), Guidance, Navigation & Control (GNC) Electronics for Weapons (IMABAGAH)

Keywords

• Defense manufacturing
• Ammunition production
• Armored vehicles
• Military equipment
• Radar systems

Headquarters

HQ city

Prague

HQ country

Czechia

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Defense Systems Sales: Revenue from sale of land systems (armored vehicles, trucks), medium and large caliber ammunition, aerospace and defense electronics (radars, air traffic control), and advanced systems. Major customer segments include NATO governments and Ukraine.
2. Small Caliber Ammunition (Ammo+): Revenue from development, production and sale of small caliber ammunition for hunting, sporting, law enforcement, and defense markets through brands including Federal, Remington, CCI, Speer, Fiocchi, and others.
3. Aerospace Services: Revenue from aircraft repair and maintenance services through JOB AIR Technic and other aerospace services companies.
4. Automotive and Industrial: Revenue from heavy off-road vehicles (Tatra Trucks), railway brake components (DAKO-CZ), and other industrial manufacturing operations.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Czechoslovak Group is a global industrial and technology holding company that manufactures and supplies military equipment, ammunition of all calibers, armored vehicles, radar systems, air traffic control systems, and unmanned aerial systems. Through its Defence Systems division it serves government defense customers (primarily NATO member states and Ukraine), and through its Ammo+ division it supplies small-caliber ammunition to civilian sporting, hunting, and law enforcement markets. The group operates 39 production facilities across 8 countries with 14,000+ employees.

Product overview

Czechoslovak Group (CSG) is a global industrial and technology group comprising two main divisions: Defence Systems and Ammo+. The Defence Systems division encompasses land systems (armored vehicles like the Pandur 8x8 EVO, Tatra Trucks), medium and large calibre ammunition (MSM Group, ZVS Holding, VOP Nováky, FM Granada), aerospace and defence electronics (ELDIS radars, RETIA, ATRAK, CS SOFT), and advanced systems including unmanned aerial systems (AviaNera Technologies). The Ammo+ division focuses on small calibre ammunition through The Kinetic Group (Federal, Remington, CCI, Speer, Hevi-Shot) and Fiocchi Munizioni. CSG also offers innovative products like the GREEN CORE biodegradable ammunition, Emergency Water from Air (EWA) devices, and Hydrogen Tatra vehicles. The portfolio includes over 100 companies across 30+ production enterprises with products exported to 70+ countries.

Differentiator

Problem solved

Functional benefit

Brands

• CSG Defence Systems: Division bringing together traditional and new companies in the defence industry operating in Czech Republic, Slovakia and other European countries, covering land systems, medium and large calibre ammunition, aerospace and defence electronics, and advanced systems.
• CSG Ammo+
• Pandur 8x8 EVO
• GREEN CORE
• TITUS
• Tadeas

Products and services

• Pandur 8x8 EVO Armored Vehicle A new-generation wheeled armored infantry vehicle developed by Tatra Defence Vehicle featuring advanced electronic targeting systems, 30mm Mk.44 Bushmaster II cannon, Spike-LR/LR2 guided missiles, and modular ballistic protection up to STANAG Level 4. Produced for military customers including the Czech Army and allied nations.
• GREEN CORE Biodegradable Ammunition 100% biodegradable small caliber ammunition designed for environmental sustainability, part of CSG Ammo+ innovation portfolio for sport, hunting, and security markets.
• Emergency Water from Air (EWA) Device Water extraction device capable of extracting water from dry desert air, developed by KARBOX for sustainable water solutions in arid regions.
• Hydrogen Tatra Vehicle Vehicle powered by hydrogen fuel cells developed by Tatra Trucks as part of the Hydrogen Tatra Development Project for sustainable commercial mobility.
• AviaNera Unmanned Aerial Systems Development, production and trade of unmanned aerial systems (UAS) technologies for military and security applications, including drone and missile integration capabilities.
• The Kinetic Group Small-Caliber Ammunition (Federal, Remington, CCI, Speer, Hevi-Shot) Leading U.S. manufacturer of small-caliber ammunition including Federal, Remington, CCI, Speer, and Hevi-Shot brands for hunting, sport shooting, law enforcement, and defense markets.
• Medium and Large Caliber Ammunition (MSM Group) Development, production and service of medium and large caliber ammunition and defence equipment for military customers including NATO member states and Ukraine.
• Fiocchi Munizioni Small Caliber Ammunition World leader in small caliber ammunition for hunting, sporting and security forces, with operations in Italy, UK and US serving civilian and law enforcement markets.
• ELDIS Pardubice Radar Systems Next-generation radar systems for aerospace and defence applications, covering 99% of India's airspace, serving civil and military customers globally.
• RETIA Military and Security Systems Development and production of military and security systems including military radars and ReTwis 5+ through-wall detection systems for armed forces and security agencies.
• ATRAK Air Traffic Control Systems Development of air traffic control systems for civil and military aviation, supporting air traffic management infrastructure.
• Tatra Heavy Off-Road Trucks Heavy off-road vehicles with over 170 years of production tradition, the oldest car manufacturer in Central Europe, serving commercial and defense customers across 70+ export markets.
• Excalibur Army Military Equipment Development and production of military equipment including land systems, artillery howitzers, and bridging systems for defense forces, including the joint production of NATO-standard 155mm and 105mm artillery ammunition with Ukrainian Armor.
• FM Granada Large Caliber Ammunition and Missiles Large calibre ammunition, propellants and missiles from Spain, with 700 years of continuous production tradition, serving military customers across Europe and allied markets.
• ZVS Holding Ammunition Production Ammunition production specialist with Europe's most advanced large-calibre ammunition production line in Slovakia, supplying NATO member states including a EUR 58 billion seven-year framework agreement with the Slovak Republic Ministry of Defence.
• Tatra Defence Vehicle Wheeled Armored Vehicles Development and production of wheeled armored vehicles including Pandur 8x8 under GDELS license, TITUS armored vehicles in cooperation with KNDS, and Tadeas armored vehicles for military customers.
• CS SOFT Air Traffic Control Services Systems Systems for air traffic control services including military applications, supporting civil and military aviation infrastructure.
• VOP Nováky Ammunition Production and Lifecycle Services Ammunition production and life cycle expert for medium and large caliber ammunition, supporting CSG's vertically integrated ammunition supply chain.
• Baschieri & Pellagri Shotshells and Components Design, development and production of gunpowder, wads, Gordon cases, biodegradable components and premium shotshells for sport shooting and hunting markets.

Quantifiable outcome

• 71.7% revenue increase in 2025
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• DOMAR MScoreStrategic or Co-development Partner · 6 March 2026Polish wiring harness manufacturer acquired through CSG Polska to expand manufacturing capacity in Poland, support defense and industrial markets, and strengthen supply chain for strategic defense components.
• 4iG Space & Defence TechnologiescoreStrategic or Co-development Partner · 3 March 202649% stake acquisition in Hungarian company for entry into Hungarian defense industry with plans for military vehicle supply and HIMARS systems integration in Győr.
• Hirtenberger Defence SystemscoreStrategic or Co-development Partner · 1 January 202649% stake acquisition expanding capabilities in mortar systems and ammunition production through Austrian company.
• Elbit SystemscoreTechnology or IntegrationIsraeli defense company supplying UT30MK2 unmanned turret for Pandur 8x8 EVO vehicles. Complete technology transfer of turret manufacturing to Czech Republic.
• General Dynamics European Land Systems (GDELS)coreTechnology or IntegrationLicense partner for Pandur 8x8 vehicle family. License allows TDV to manufacture, supply, modernize vehicles and develop new technologies for selected territories.
• CumminscoreTechnology or IntegrationEngine supplier for Pandur 8x8 EVO providing ISL 540 turbo diesel engine (405 kW, 8.9L, six-cylinder) and ZF automatic transmission.
• KNDScoreTechnology or IntegrationDefense systems manufacturer collaborating on TITUS armored vehicles based on Tatra chassis.
• The Kinetic Group (Vista Outdoor)flagshipStrategic or Co-development Partner$2.2 billion acquisition of US small-ammunition maker including Federal, Remington, CCI, Speer, Hevi-Shot brands, making CSG the largest small-caliber ammunition producer in the Western world.
• Ukrainian ArmorminorStrategic or Co-development PartnerPartnership with Ukrainian Armor for joint production of NATO-standard 155mm and 105mm artillery ammunition at Excalibur Army's Ukraine office, targeting 100,000 shells in 2025 growing to 300,000 in 2026.

Scale indicators19 records

Recent moves12 records

Expansion highlights8 records

Broad incumbents

• Saab AB: Saab is a Swedish defense and security company with broad exposure to military aircraft, missiles, sensors, and naval systems. Comparable as a Nordic/European defense incumbent with overlapping capabilities in radars, missiles, and armored vehicles.
• BAE Systems plc: BAE Systems is a global defense prime with broad exposure to land, air, sea, and electronic systems. Comparable as a large-scale European defense supplier though with a much wider platform portfolio and deeper balance sheet than CSG.
• Thales Group: Thales is a French defense electronics and aerospace leader comparable to CSG's ELDIS and RETIA in radar/sensor technologies and broader air traffic control (ATRAK/CS SOFT) capabilities.
• General Dynamics Corporation: General Dynamics is a U.S. defense prime whose European Land Systems (GDELS) division licenses the Pandur platform to CSG's Tatra Defence Vehicle. Comparable as a parent of a key CSG partner and direct competitor in armored vehicles.
• Elbit Systems Ltd. Elbit Systems is an Israeli defense electronics company that supplies the UT30MK2 unmanned turret to CSG for the Pandur 8x8 EVO. Comparable as both a key technology partner to CSG and a broader portfolio competitor in defense electronics and UAS.

Direct peers

• Rheinmetall AG: Rheinmetall is Germany's leading defense contractor and Europe's #1 ammunition producer, with parallel exposure to medium/large caliber munitions, armored vehicles, and air defense systems. Directly comparable to CSG in product portfolio and European defense customer base.
• KNDS NV: KNDS (KMW+Nexter) is a Franco-German armored vehicle and artillery manufacturer. Direct peer as CSG collaborates with KNDS on the TITUS armored vehicle and competes across European land systems.
• Nammo AS: Nammo is a Norwegian-headquartered joint venture specializing in small, medium, and large caliber ammunition, rocket motors, and demilitarization services. Directly comparable as an ammunition pure-play serving NATO militaries.
• Vista Outdoor Inc. Vista Outdoor divested The Kinetic Group (Federal, Remington, CCI, Speer, Hevi-Shot) to CSG for $2.2B in 2024. Comparable as a sporting/outdoor products peer and the former parent of CSG's largest small-caliber ammunition business.
• Olin Corporation: Olin's Winchester division is one of the largest U.S. small-caliber ammunition producers, directly competing with CSG's Kinetic Group brands (Federal, Remington) in civilian and law enforcement markets.

Market position

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CSG_HOLDING
• Facebookfacebook.com/czechoslovakgroup
• LinkedInlinkedin.com/company/czechoslovak-group

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Czechoslovak Group