CZECH REPUBLIC — Excalibur Army, one of the significant Czech manufacturers and modernizers of military technology, achieved record economic results last year. The company's revenues increased by 17.4 billion CZK year-on-year to reach 83.2 billion CZK. Profit rose by 1.32 billion CZK to amount to 12.5 billion CZK. This is according to the company's annual report.

The results represent the highest revenues and profit in the company's history, with year-on-year revenue growth reaching approximately 26 percent. Excalibur Army focuses on manufacturing, modernization, repair, and servicing of military technology. Its production and service capacities are primarily located in Šternberk in the Olomouc Region and Přelouč in the Pardubice Region. The company is part of the Czechoslovak Group (CSG) industrial-defense holding owned by entrepreneur Michal Strnada.

In recent years, the holding has significantly expanded its activities in the defense industry and operates not only within the Czech Republic but also on foreign markets. Excalibur Army's significant economic growth comes at a time when European states are increasing their spending on defense and modernizing their armies. The war in Ukraine has simultaneously increased demand for military technology, ammunition, repair capacities, and modernization of older weapon systems. In addition to this, European countries are striving to strengthen their own domestic defense production capabilities.

The current development means a significant increase in importance for the Czech arms industry. Companies operating in this sector are obtaining new contracts and expanding manufacturing possibilities. Excalibur Army is among companies that benefit significantly from this trend. Record economic results simultaneously indicate growing economic significance of the defense industry within the Czech Republic.

Arms manufacturers are increasingly contributing to Czech exports, with their products directed toward customers in numerous countries. The result for Excalibur Army thus confirms continued expansion of the Czech defense industry. Revenues exceeding 83 billion CZK and profit of 12.5 billion CZK rank the company among the most prominent enterprises within the domestic arms sector.

gnews.cz - JAV