Colt CZ Group posts H1 revenue jump, confirms 2024 outlook

Colt CZ SE

12/09/2024 09:28

PRAGUE, Sept 12 (Reuters) - Czech gunmaker Colt CZ Group
posted a 41.2% rise in first-half revenue on Thursday as U.S.
sales recovered and the group completed its acquisition of
ammunition manufacturer Sellier & Bellot.
    Revenue climbed to 9.69 billion crowns ($425 million) while
adjusted earnings before interest, tax, depreciation and
amortisation (EBITDA) grew by 35.3% to 1.98 billion crowns.
    The company said the second quarter was its strongest in
history.
    Net profit fell more than 40% in the first half, however,
due to increased amortisation and depreciation related to the
Sellier & Bellot acquisition, along with lower income from
financial operations.
    Colt CZ confirmed its outlook for revenue to grow as much as
48% in 2024, to between 20.0 billion and 22.0 billion crowns.
Adjusted EBITDA should rise as much as 54% to 4.7 billion
crowns.
    It said it expected its fourth-quarter earnings to be
stronger than the third quarter.
    ($1 = 22.7990 Czech crowns)

 (Reporting by Jason Hovet; editing by Jason Neely)
 ((jason.hovet@thomsonreuters.com;))