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CSG unconsolidated revenue reached almost CZK 30 billion in 2019 with EBITDA of CZK 3 billion

Unconsolidated revenue of the CZECHOSLOVAK GROUP (CSG) holding reached CZK 28.5 billion and EBITDA of CZK 2.97 billion in 2019. The revenue increased by 21 percent and EBITDA by 53 percent year-on-year. All major companies of the holding owned by Michal Strnad including TATRA TRUCKS, DAKO-CZ, radar manufacturers and aircraft repair and maintenance providers prospered. Almost 8,000 people worked in companies controlled by Michal Strnad in 2019.

“2019 was a very successful year for CSG. Thanks to the growth in our aerospace division, we have transformed into an industrial and technological holding company producing final products with the highest added value. With few exceptions, we did not make new acquisitions and rather developed the companies we already have in the holding," says Michal Strnad, CSG owner.

TATRA TRUCKS, in which Strnad's holding owns 65 percent and René Matera´s PROMET GROUP 35 percent, stands for CSG´s largest subsidiary. Last year's Tatra sales reached CZK 5.88 billion and EBITDA of CZK 365 million. The oldest Czech automaker thus achieved the highest sales since 2010.

Within CSG, rail sector also grew significantly: the sales of the brake systems manufacturer for rail vehicles DAKO-CZ reached CZK 1.14 billion with EBITDA of CZK 265 million. At the same time, in 2018, DAKO CZ reported sales of 927 million and EBITDA of CZK 150 million.

The aviation-related business has also grown significantly. The CSG companies active in aerospace industry produce radars, develop air traffic control software, specialize in aircraft repair and maintenance service, and provide for flight trainings. The Group earned CZK 5.34 billion in the aerospace business. Of this, ELDIS company, producing radars, reported sales of CZK 977 million and EBITDA of CZK 290 million.

Within CSG, the importance of aviation business has preceded the activities carried out by EXCALIBUR ARMY and TATRA DEFENSE VEHICLE, which specialize in the production of special heavy-duty vehicles tailor-made for soldiers and firefighters. This historical part of CSG's business generated sales of CZK 4 billion in 2019 (the total of both above-mentioned companies).

Yet another Strnad´s company reported successful year of 2019: ELTON hodinářská, the only Czech manufacturer of watches and clockworks, reached sales of CZK 59 million and EBITDA of CZK 4 million. ELTON hodinářská specializes in a luxury PRIM brand watches production.

CSG did not make any major acquisition last year. The Group has expanded to include Hyundai and Mazda car showroom groups and Skyport, an aviation logistics company. The newly acquired companies performed soundly and contributed by CZK 123 million to the EBITDA indicator of the CSG holding.

Last year, the Group also secured advantageous financing for its further development, when it issued and sold bonds worth CZK 2 billion in autumn.

 

CZECHOSLOVAK GROUP
Unconsolidated financial statement in 2019 [in thousands of CZK]

2018

2019

Revenue

23 516 843

28 504 983

EBITDA

1 932 925

2 971 117

 

About CZECHOSLOVAK GROUP

Czechoslovak Group is a holding company building on the tradition of the Czechoslovak industry, which promotes and further develops the activities of both new and traditional Czech and Slovak companies. Its production and development are based in Western, Central and Eastern Europe with business activities on all settled continents. CSG companies are engaged in defence and civil industrial manufacturing and trade, including special high-tech segments. The legendary Tatra Trucks factory, one of the subsidiary companies, belongs among the oldest car manufacturers in the world, and is also a supplier of modern heavy-duty vehicles. CSG is the Czech leading manufacturer of land systems as well. A distinctive part of the holding, CSG Aerospace Division, is formed by companies focused on the development and production of radar, air traffic control systems, flight training and civil aircraft service. CSG Group companies also operate in the railway industry. Most CSG production is exported. Some Group companies are also major suppliers of technology and services to the home security sector.

Press Office: Andrej Čírtek, GSM:  +420 602 494 208. E-mail: andrej.cirtek@czechoslovakgroup.cz