Czechoslovak Group

CZECHOSLOVAK GROUP a.s.

Czechoslovak Group HQ in Prague
Formerly	EXCALIBUR GROUP a.s. (2014–2016)
Company type	Public
Traded as	Euronext Amsterdam:  CSG
Industry	Arms, automotive and aerospace industry holding company
Founder	Jaroslav Strnad  [ cs ]
Headquarters	Prague , Czech Republic
Key people	Michal Strnad   (Chairperson)
Revenue	€ 5.2 billion [a]  (2024)
Operating income	1,012,873,000 euro (2024)
Net income	€ 1,4 billion [b]  (2024)
Total assets	8,029,287,000 euro (2024)
Total equity	€ 31,3 billion ($ 37 billion) [1]  (2026)
Owner	Michal Strnad (84,8%)
Number of employees	over 14.000 (incl. subsidiaries) (2024)
Website	czechoslovakgroup.cz
Footnotes /references [2] [3] [4]

The Czechoslovak Group (CSG), formerly Excalibur Group, ^[2] is a Czech industrial-technological holding company encompassing over 100 companies with over 14,000 employees worldwide. Headquartered in Prague, CSG operates in several sectors including defense, aerospace, ammunition, automotive, and railway industries. ^[5] Since January 2018, the owner of the Czechoslovak Group is Michal Strnad, the son of the founder, Jaroslav Strnad. In 2025, Michal Strnad stated that his aim is to grow the Czechoslovak Group into the second largest European defense manufacturer.

While bulk of the CSG's operations is based in the Czech Republic and Slovakia, CSG also operates factories in Germany, ^[6] Greece, India, Italy, Serbia, Spain, the United Kingdom and the United States. In 2024, the company became one of the world's largest manufacturers of small arms ammunition through acquisition of The Kinetic Group.

In 2024, 78% of CSG's revenue originated from defense-related manufacturing, with small arms ammo manufacturing contributing further 11.3%. CSG exported its products to over 70 countries, with 50% of the CSG's revenue realized in NATO states and 42% in Ukraine (23% of CSG's revenue in 2023, 41% in 2022). ^[7]

History

20th century

Jaroslav Strnad started his business as a scrapyard owner in 1990s. ^[8] From early on, Strnad focused his business on dealing with military surplus equipment, which was in extreme oversupply after the fall of the Warsaw Pact. In 1995, Jaroslav Strnad founded a family company Excalibur Army with less than 20 employees ^[8] and with CZK 100,000 ($ 3,700) initial operating capital. ^[9] The newly established company expanded business from scrap dealing also towards refurbishment of military surplus equipment. ^[8] Gradually, the company started acquiring other businesses focused on rail, radar, truck manufacturing.

21st century

During Jaroslav's time, the company focused on expansion of its business primarily in the Czech Republic and from 2008 also in Slovakia. In 2013 CSG acquired majority stake in Tatra trucks. In 2016 CSG purchased military repair facility in Šternberk from the Czech government.

In 2016 Jaroslav's son Michal took a role of a Chairman of the Board of Directors and the company Excalibur Group was renamed Czechoslovak Group. ^[2] . In 2018, Jaroslav transfered full ownership of the company to Michal, who started international expansion of the company with purchases of multiple foreign companies, ^{[8] [10] [2]} e.g. Fábrica de Municiones de Granada (2020), Fiocchi Munizioni (2022) ^[11] or Vista Outdoor's The Kinetic Group (2024). In 2026, the company launched initial public offering of 15.2% of its stock at Euronext Amsterdam, raising 3.8 billion euros ($4.5 billion), ^[12] which made it the world's largest defense IPO in history. ^[13] Chair Michal Strnad said a significant amount of funds raised would go towards acquisitions. ^[14]

Notable developments

Wartime deliveries

Supplies to Iraq

During the War in Iraq (2013–2017), CSG became an important supplier of tanks and infantry fighting vehicles used by the Iraqi Government against ISIS. ^[15]

Training of Afghani pilots

During the War in Afghanistan (2001–2021), CSG trained pilots of the Afghan National Security Forces on its fleet of Black Hawk helicopters. ^[16]

Supplies to Ukraine

During the Russo-Ukrainian war, CSG has been one of the leading European suppliers of defense and defense-related products to Ukraine, especially through the Czech Ammunition Innitiative, through which the Czechoslovak Group delivered 1 million artillery shells in 2024 alone (partially through its own production, partially by re-imports and refurbishments). ^[7]

Before the 2022 Russian invasion of Ukraine, a number of Ukrainian arms developments were using Tatra 817 chassis, including 2S22 Bohdana howitzer, Bureviy rocket artillery system and R-360 Neptune cruise missile. Following the invasion, deliveries to Ukraine comprised 41% of CSG's revenue in 2022, 23% in 2023 and 42% in 2024. ^[17] CSG's most notable sales to Ukraine include: ^{[18] [19] [20] [21]}

• Artillery and ammunition deliveries from multitude of its factorie (see table below)
• T-72 Avenger main battle tanks
• BMP-1 and BMP-2 infantry fighting vehicles
• RM 70 Vampire and BM-21 MT STRIGA multiple launch rocket systems
• DANA M2 and DITA self-propelled howitzers

Partnerships and collaborations

CSG cooperates with multiple other defense manufacturers, e.g. KNDS on Nexter Titus and Leopard 2A8 ^[22] , with Steyr-Daimler-Puch on Pandur II (8×8), ^[23] or with Israel Aerospace Industries on radar technology (through CSG'S Retia subsidiary). ^{[24] [25] [26]}

Kinetic Group purchase controversy

In October 2023, CSG announced a deal to purchase the ammunition business The Kinetic Group (which includes companies such as Remington Ammunition) from the US company Vista Outdoor. ^{[27] [28] [29] [30]} Vista's sale to CSG became a focus of political controversy in the USA, as it was protested by the senator and later vice-president JD Vance, ^[31] senator John Kennedy, representative Clay Higgins and National Sheriffs' Association. ^[32] Vista Outdoor stockholders approved the sale of Kinetic Group on 25 November 2024 for the price of $2.23bn. ^[33]

Notable holdings

The Czechoslovak Group holds shares in around 100 companies based mainly in the Czech Republic and Slovakia, the table below includes only some of them.

Logo	Company	Headquarters	Focus	Share	Note / main products
CSG Defense
	14. oktobar	Kruševac, Serbia	Tank and artillery ammunition production Heavy machinery manufacturing	100%	Established 1923.
	EXCALIBUR ARMY spol. s r.o.	Šternberk, Czech Republic	Refurbishment and manufacturing of heavy arms	90%	T-72 Avenger tank Morana 155mm SPG RM 70 Vampire MLRS
	EXCALIBUR INTERNATIONAL a.s.	Prague, Czech Republic	Export agency for CSG companies
	Fábrica de Municiones de Granada	Granada, Spain	Tank and artillery ammunition production.		Established 1324.
	Hellenic Ammunition S.A.	Lavrio, Greece	Tank and artillery ammunition production TNT Production	49%	Joint venture concluded in 2025 with Hellenic Defence Systems (Greek state company) aimed at restarting of production in a mostly defunct TNT and ammunition factory. [34]
	MSM North America	St. Petersburg, Florida	Tank and artillery ammunition production		In 2025, the company was awarded a United States Department of Defense contract for Future Artillery Complex to be built and operated within the Iowa Army Ammunition Plant. The highly automated plant shall produce 36,000 155mm artillery shells monthly by September 2029. [35]
	MSM Walsrode	Bomlitz, Germany	Artillery-grade nitrocelulosis production.		Since 1879.
	REAL TRADE PRAHA a.s.	Šternberk, Czech Republic	International arms trade	91%	Licensing and transporting services for intl. arms trade
	TATRA DEFENCE VEHICLE a.s.  [ cs ]	Prague, Czech Republic	Armored military vehicles development and manufacturing	100%	Patriot MRAP TITUS MRAP Pandur II APC Armored cabs for Tatra trucks Leopard 2A8 hulls [36]
	VOP Nováky, a. s.	Nováky, Slovakia	Production of rockets, grenades, etc.
	ZVI a.s.	Vsetín, Czech Republic	Medium ammunition production		20 - 30mm ammunition ZVI Falcon
	ZVS holding, a.s.	Dubnica nad Váhom, Slovakia	Tank and artillery ammunition production.		Established 1937.
CSG Ammo+
	Baschieri & Pellagri ammunition	Bologna, Italy	Small arms ammunition manufacturer
	CCI Ammunition	Lewiston, Idaho	Small arms ammunition manufacturer
	Federal Premium Ammunition	Anoka, Minnesota	Small arms ammunition manufacturer
	Fiocchi Munizioni	Lecco, Italy	Small arms ammunition manufacturer	100% [37]	Established 1876. Operates also 2 factories in the USA.
	HEVI-Shot	Sweet Home, Oregon	Small arms ammunition manufacturer
	Lyalvale Express	Fisherwick, United Kingdom	Small arms ammunition manufacturer
	Remington Ammunition	Lonoke, Arkansas	Small arms ammunition manufacturer		Established 1816
	SPEER Ammunition	Lewiston, Idaho	Small arms ammunition manufacturer
CSG Aerospace
	Atrak a.s.	Prague, Czech Republic	Advanced air traffic control systems development	100%
	Česká letecká servisní a.s.	Prague, Czech Republic	Avionics integration for air-plane modernization
	CS SOFT a.s.	Prague, Czech Republic	Advanced air traffic control systems development	80%
	ELDIS Pardubice, s.r.o.  [ cs ]	Pardubice, Czech Republic	Radar technology development and manufacturing	100%
	EUROPEAN AIR SERVICES s.r.o.	Prague, Czech Republic	Sales and modernization of aircraft, pilot training	87,3%	Operates fleet of 24 helicopters
	MUST Solutions	Belgrade, Serbia	UAV engines development and manufacturing	51%	Mechatronics Umnanned Systems & Technology Solutions, acquired in 2025
	Pocket Virtuality	Prague, Czech Republic	XR technologies for industry and defense
	RETIA, a.s.  [ cs ]	Pardubice, Czech Republic	Radars, air-defense systems, ISTAR systems, command and control systems	100%
	Slovak Training Academy s.r.o.	Dubnica nad Váhom, Slovakia	Pilot training	100%
	UpVision s.r.o.	Prague, Czech Republic	Drone technology and drone defense developer
CSG Mobility
	Avia Motors s.r.o.	Prague, Czech Republic	Light truck manufacturing	100%	Established 1919 (currently defunct [38] )
	DAKO-CZ, a.s.  [ cs ]	Třemošnice, Czech Republic	Manufacture of rail breaking systems	51%	Established 1816.
	KARBOX, s. r. o.	Přelouč, Czech Republic	Container development and manufacturing	100%
	LIberecké Automobilové Závody	Jablonec nad Nisou, Czech Republic	Medium truck manufacturing	100%	Established 1951 (currently defunct)
	TATRA TRUCKS a.s.	Kopřivnice, Czech Republic	Heavy truck & chassis manufacturing	65%	The third oldest company in the world producing motor vehicles with an unbroken history. Established 1850, first car made in 1897, first truck in 1898. Tatra 810 medium off-road truck Tatra 817 heavy off-road military truck Tatra 158 heavy off-road civilian truck
CSG Business Projects (other)
	Perazzi	Brescia, Italy	High-end shotgun manufacturing	80%	Established 1957.
	Prague Fertility Centre	Prague, Czech Republic		100%

Notable previous holdings (sold off)
Logo	Company	Headquarters	Focus	Share	Note / main products
	ELTON hodinářská, a. s.	Nové Město nad Metují, Czech Republic	Watch manufacturing	73,16%	PRIM watches Sold in 2025. [39]
	JOB AIR Technic a.s.	Mošnov, Czech Republic	Maintenance and servicing of airplanes	40,15%	Sold in 2025 [40]

Notes

1. Including revenues of newly acquired Kinetic Group
2. Including revenues of newly acquired Kinetic Group

References

1. https://www.bloomberg.com/news/articles/2026-01-23/defense-tycoon-strnad-s-wealth-soars-to-37-billion-after-ipo
2. CZDEFENCE. "Czechoslovak Group – an industrial-technological holding of more than a hundred companies based in many countries of the world". www.czdefence.com. Retrieved 11 January 2024.
3. "Strnadova Czechoslovak Group kupuje za 45 miliard muničního giganta v USA". 16 October 2023.
4. Tramba, David (9 October 2025). "Zbrojením k bezpečnosti i miliardám" [Through arming towards security as well as billions]. Euro Platinum (in Czech). Prague: New Look Media.
5. "CZECHOSLOVAK GROUP a.s., B 20071 vedená u Městského soudu v Praze". Veřejný rejstřík a Sbírka listin (in Czech). Retrieved 15 December 2022.
6. CZDEFENCE. "CSG kupuje od IFF výrobu nitrocelulózy v Německu". www.czdefence.cz (in Czech). Retrieved 10 March 2025.
7. "Annual Report and Accounts 2024" (PDF). sanity.io. Czechoslovak Group. 2024. Retrieved 11 November 2025.
8. "Meet 27-Year-Old Arms Dealer Michal Strnad, The Czech Industrialist With 'More Tanks' Than The Army". Forbes.com. Retrieved 18 October 2019.
9. https://www.seznamzpravy.cz/clanek/ekonomika-firmy-od-srotu-ke-stovkam-miliard-jak-se-zrodilo-strnadovo-zbrojni-imperium-297222
10. Čírtek, Andrej (16 October 2023). "Czechoslovak Group to acquire Vista Outdoor's sporting products". czechoslovakgroup.com (Press release). Czechoslovak Group. Retrieved 11 January 2024.
11. Lopatka, Jan (11 January 2024). "CSG scouting for more acquisitions after Italian ammo maker Fiocchi". Reuters.com.
12. https://uk.finance.yahoo.com/news/czech-billionaires-csg-set-fetch-060710105.html
13. https://www.marketwatch.com/story/the-largest-defense-ipo-ever-surges-in-debut-f5fbdd20
14. Herbert, Emily; Levingston, Ivan; Minder, Raphael (23 January 2026). "Shares in Czech ammunition group surge 31% on stock market debut" . Financial Times . Retrieved 24 January 2026.
15. "Česká firma Excalibur Army dodá Iráku stovku tanků a obrněnců". Deník.cz (in Czech). 6 February 2015. Retrieved 10 March 2025.
16. https://www.ceskenoviny.cz/zpravy/spolecnosti-holdingu-csg-provozuji-nejvyspelejsi-centrum-pro-vycvik-pilotu-vrtulniku-ve-stredni-evrope/1799308
17. "Annual Report and Accounts 2023" (PDF). sanity.io. Czechoslovak Group. 2023. Retrieved 11 November 2025.
18. Hudec, Michal (3 April 2023). "Slovakia to increase ammo production fivefold, says defence minister". euractiv.com. Retrieved 11 January 2024.
19. "Premiér Petr Fiala navštívil společnost Excalibur Army, na jeden z tanků, který poputuje na Ukrajinu, napsal i krátký vzkaz". vlada.cz (in Czech). Retrieved 11 January 2024.
20. "Premiér v Excalibur Army ocenil projekt modernizace T-72 pro Ukrajinu, který koordinuje Ministerstvo obrany". mocr.army.cz (in Czech). Retrieved 11 January 2024.
21. "Speciální terénní auta s dvojkulomety vyrobí pro Ukrajinu ve Šternberku. Pomohou proti dronům". ct24.ceskatelevize.cz (in Czech). Retrieved 11 January 2024.
22. https://czechoslovakgroup.com/cs/news/tatra-defence-ze-skupiny-csg-ziskala-strategicky-kontrakt-na-vyrobu-korb-pro-tanky-leopard-2a8-ve-spolupraci-s-knds-za-stovky-milionu-eur
23. https://czechoslovakgroup.com/cs/innovations/pandur-8x8-evo
24. "Israel Aerospace Industries MMR radars, have successfully pa". www.asdnews.com. Retrieved 11 January 2024.
25. McNeil, Harry (22 June 2023). "Israel Aerospace Industries MMR radars pass Czech military tests". Army Technology. Retrieved 11 January 2024.
26. ID (27 November 2014). "ELTA to Cooperate with Czech Company". ISRAEL DEFENSE. Retrieved 11 January 2024.
27. "Vista Outdoor to sell sporting products unit in $1.91 bln deal, cuts sales forecast". Reuters.com. 16 October 2023. Retrieved 6 November 2023.
28. "Strnadova Czechoslovak Group kupuje za 45 miliard muničního giganta v USA". iDNES.cz (in Czech). 16 October 2023. Retrieved 6 November 2023.
29. Schultz, Clark (12 December 2023). "Vista Outdoor expects to close Czechoslovak deal in 2024 after landing antitrust clearance". seekingalpha.com. Seeking Alpha. Retrieved 11 January 2024.
30. "The Czechoslovak Group Enters into Definitive Agreement to Acquire Vista Outdoor's Sporting Products Business for $1.91 Billion" (Press release). Businesswire. 16 October 2023. Archived from the original on 26 October 2023. Retrieved 11 November 2025– via Yahoo Finance.
31. Vance, JD. "JD Vance letter to Secretary Yellen" (PDF). vance.senate.gov. United States Senate. Archived from the original (PDF) on 26 January 2024.
32. "Americký senátor napadl byznys českého zbrojaře, nařkl ho z vazeb na Čínu a Rusko". Aktualne.cz (in Czech). 17 April 2024. Retrieved 10 March 2025.
33. "Czech takeover of US ammunition maker Kinetic wins shareholder approval". Financial Times. 26 November 2024. Retrieved 27 November 2024.
34. https://www.czdefence.cz/clanek/skupina-csg-zalozila-s-reckym-partnerem-novy-spolecny-podnik-na-vyrobu-munice
35. https://www.czdefence.cz/clanek/spolecnost-msm-north-america-soucast-skupiny-csg-ziskala-od-us-army-zakazku-na-vystavbu-nejmodernejsi-tovarny-pro-plneni-155mm-munice-v-severni-americe
36. https://www.novinky.cz/clanek/zahranicni-tatra-defence-ziskala-zakazku-na-korby-pro-nemecky-tank-leopard-2a8-40554112/
37. "Strnadova CSG se stala jediným vlastníkem skupiny Fiocchi vyrábějící malorážovou munici - Novinky". 16 April 2025.
38. Matoušek, Jan (2 August 2020). "Výroba aut značky Avia opět končí. Připomeňte si její více než stoletou historii". Aktuálně.cz (in Czech). Retrieved 6 November 2023.
39. https://www.novinky.cz/clanek/ekonomika-po-dvaceti-letech-sporu-zbrojar-strnad-prodal-prim-elton-konkurenci-40524717
40. https://forbes.cz/strnad-se-zbavuje-leteckych-opraven-job-air-technic-kupuje-svetova-jednicka-v-pronajmu-letadel/

External links

• Official website