Record-breaking year for Czech firearms company

Record-breaking year for Czech firearms company
Ceska zbrojovka at the IDEX trade fair in Abu Dhabi. / Ceska zbrojovka
By bne IntelliNews May 30, 2018

Ceska zbrojovka Uhersky Brod (CZUB), the Czech firearms manufacturer, had a record-breaking year with a profit of CZK625mn (€24.1mn), up CZK28mn from 2016. Total revenues increased to CZK4.523bn, from CZK4.101bn in 2016, the vice-president of CZUB said on May 29.

The main reason is the increase in production. The total amount of firearms exceeded 300,000 pieces and 90% of them were exported. It is yet another piece of the puzzle of the buoyant Czech economy.

The company continues with successful results also in 2018. Recently, the Hungarian arms company M.o.D. Arzenal bought a licence for manufacturing 200,000 firearms for €100mn. The Hungarian company will produce handguns, submachine guns and assault rifles for the Hungarian army.

CZUB also introduced several new firearms, such as sniper rifle CZ TSR or handgun CZ P-10 C OR and CZ Shadow 2 OR.

The company exports to almost 100 countries. The biggest markets are Europe, Thailand, Canada and the USA. CZUB has also civilian production, especially car and aircraft industry.

The main shareholder is EHC CZUB, SE company of Rene Holecek with 90% of shares. The remaining 10% is owned by the board members.

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