Colt Cz Group Se · PSECZ:COLT
Colt Cz — Q1 2025 Earnings Presentation
29 slides from Colt Cz's earnings presentation, 2025
Slide 1: Colt CZ Group SE Financial Results Q1 2025
COLT CZ GROUP SE FINANCIAL RESULTS Q1 2025 INVESTOR PRESENTATION
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER IMPORTANT – YOU MUST READ THE FOLLOWING BEFORE CONTINUING This presentation (the “Presentation”) has been prepared by Colt CZ Group SE, with its registered office at náměstí Republiky 2090/3a, Nové Město, 110 00 Praha 1, Identification Number 291 51 961, registered in the Commercial
Slide 3: Agenda and Today's Presenters
AGENDA AND TODAY'S PRESENTERS AGENDA PRESENTERS JAN DRAHOTA 1 Q1 2025 AT A GLANCE Chairman of the Board of Directors Colt CZ Group SE RADEK MUSIL 2 FINANCIAL HIGHLIGHTS Vice-chairman of the Board of Directors CEO of Colt CZ Group SE 3 2025 GUIDANCE JAN ZAJÍC Member of the Board of Directors CEO of Č
Slide 4: Q1 2025 at a Glance
Q1 2025 AT A GLANCE REVENUES ADJUSTED EBITDA CZK 5,512 m CZK 1,212 m ↑ 50.3% vs Q1 2024 ↑ 148.1% vs Q1 2024 ADJUSTED NET PROFIT ADJUSTED EPS CZK 547 m CZK 9.7 ↑ 51.8% vs Q1 2024 ↓ 2.1% vs Q1 2024 4 1
Slide 5: Group Vision & Ambition
GROUP VISION & AMBITION VISION To become the recognized undisputed leader of the small arms industry. AMBITION 2030 €2 billion in revenue €400 million in EBITDA 5
Slide 6: Comments on Q1 2025 Performance
COMMENTS ON Q1 2025 PERFORMANCE The Group achieved record Q1 revenues and adjusted EBITDA in 2025. If Sellier & Bellot was included in Q1 2024 comparison, adjusted EBITDA would increase by 17% yoy and revenues by 2% yoy, confirming organic growth of the Group. Ammunition segment achieved excellent p
Slide 7: Acquisition of VSS
ACQUISITION OF VSS On May 9, 2025, Colt CZ Group North America, Inc. signed a stock purchase agreement to acquire all of the shares of capital stock of New England Expert Technologies Corp., which owns all of the capital stock of Valley Steel Stamp Inc. By this acquisition, Colt CZ Group will gain o
Slide 8: Revenues – Significant Shift Due to S&B Consolidation
REVENUES – SIGNIFICANT SHIFT DUE TO S&B CONSOLIDATION REVENUE BREAKDOWN BY GEOGRAPHY REVENUE BREAKDOWN BY GEOGRAPHY – SEGMENTS In % of total revenues In % of total revenues 69% 48% 44% 53% 33% 17% 17% 17% 10% 11% 11% 14% 6% 7% 10% 4% 4% 6% 5% 2% 2% 3% 1% 1% 2% 1% 1% 1% USA Czech Rep. Canada Europe e
Slide 9: Revenues and EBITDA Margin – Own Production vs Trading
REVENUES AND EBITDA MARGIN – OWN PRODUCTION VS TRADING REVENUE & ADJ. OWN PRODUCTION OWN PRODUCTION EBITDA MARGIN FIREARMS AMMUNITION TRADING In CZK m In CZK m In CZK m In CZK m 5 512 2 667 2 475 33% 22% 14% 370 5.7% Revenues Adjusted EBITDA Revenues Adjusted EBITDA Revenues Adjusted EBITDA Revenues
Slide 10: Customer Segments
CUSTOMER SEGMENTS Q1 2024 REVENUES BY TYPE OF CUSTOMER Q1 2025 FIREARMS1 FIREARMS1 38% 62% 53% 47% Q1 47% Q1 45% 53% 2024 55% 2025 AMMUNITION1 47% 53% Commercial Military and Law Enforcement Notes: 1 – In percentage of total revenues 10
Slide 11: Record Q1 in Group's History
RECORD Q1 IN GROUP’S HISTORY BREAKDOWN BY FIREARMS UNITS SOLD QUARTERLY REVENUES & ADJ. EBITDA SEASONALITY In ‘000 units In CZK m +12% 157 7,404 140 6,023 60 5,512 5,282 58 4,945 3,848 3,667 3,013 3,050 97 82 1,492 1,577 1,113 1,212 1,041 683 781 471 488 Q1 2024 Q1 2025 Q1 2023 Q2 2023 Q3 2023 Q4 20
Slide 12: Q1 2025 Net Profit Positively Affected by Ammunition Segment
Q1 2025 NET PROFIT POSITIVELY AFFECTED BY AMMUNITION SEGMENT ADJUSTED VS. REPORTED NET PROFIT ADJUSTED EARNINGS PER SHARE1 In CZK m In CZK +52% -2.1% 547 9.9 9.7 23 0.4 1,6 360 70 524 9,3 8,3 290 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Adjustments Net profit Adjustments EPS COMMENTS Full breakdown of adjust
Slide 13: Capex in Line with 2025 Guidance
CAPEX IN LINE WITH 2025 GUIDANCE CAPITAL EXPENDITURES1 CAPEX GEOGRAPHICAL SPLIT CZK m/% In CZK m Guidance2 4.8% 5.9% 4.7% 6.2% 4.1% 4.9% ≤ 5.0% +47% 1,100 – 1,300 9 924 921 46 44 680 71 633 Q1 2024 Q1 2025 331 270 217 66 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Q1 2025 FY 2025e CAPEX CAPEX/Revenues C
Slide 14: Net Leverage Down Post ABB Transaction
NET LEVERAGE DOWN POST ABB TRANSACTION EXPECTED DEBT MATURITY PROFILE (INC. ACQUISITION FINANCING) NET FINANCIAL DEBT1 & NET LEVERAGE RATIO2 In CZK bn/EUR m In CZK m EUR m CZK bn 2,80 90 90 5 000 4 517 80 2,24 70 4 000 2,04 60 3 000 51 51 51 51 3 000 50 1,20 11 975 11 171 40 1 998 2 000 30 7,465 20
Slide 15: Priorities and Guidance 2025
PRIORITIES AND GUIDANCE 2025 REVENUES EBITDA CZK 25 bn CZK 5.5 bn plus/minus 10% plus/minus 10% Net interest costs CZK 634 mio Indicative split per quarters (updated) CZK bn Q1 Q2 Q3 Q4 FY 2025 Revenues 5.5 6.0 6.0 7.5 25 Adj. EBITDA 1.2 1.3 1.3 1.7 5.5 Notes: Guidance is based on the management exp
Slide 16: Priorities and Guidance 2025
PRIORITIES AND GUIDANCE 2025 The Board of Directors will propose a cash dividend of CZK 847 million (CZK 15 per share) for 2024, representing 44% of the adjusted net profit. Separately, the Board also plans to allocate CZK 847 million for a share buyback program. This buyback is intended to enhance
Slide 17: Risks and Opportunities for Guidance
RISKS AND OPPORTUNITIES FOR GUIDANCE RISKS OPPORTUNITIES Further deterioration of the US commercial Some of the potential contracts will be market, global economic outlook historically large for the Group if finally signed, and deliveries start in 2025. Timing to market of key products in the pipeli
Slide 18: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION Al WY COLT CZGROUP
Slide 19: Appendix
APPENDIX COLT CZGROUP Wy,
Slide 20: Acquisition of Sellier & Bellot – D&A Impact
ACQUISITION OF SELLIER & BELLOT – D&A IMPACT D&A IMPACT In CZK m 1,479 - - - 620 609 603 601 - 340 802 50 - 802 859 - - - - - FY 2023 FY 2024 2025e 2026e 2027e 2028e-2039e 2040e-2044e D&A D&A PPA COMMENTS Increase in Amortization due to Purchase Price Allocation of S&B acquisition significantly affe
Slide 21: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION In CZK ‘000 Q1 2025 Q1 2024 Operating profit 819 468 220 823 Depreciation and amortization 385 362 199 890 EBITDA 1 204 830 420 713 ESOP related costs 16 123 67 023 M&A costs 3 339 644 S&B commodity hedging (12 627) - Adjusted EBITDA 1 211 665 488 380 Notes: Financials
Slide 22: Adjusted Net Profit Reconciliation
ADJUSTED NET PROFIT RECONCILIATION In CZK ‘000 Q1 2025 Q1 2024 Earnings before tax 691 402 374 623 Tax expenses (167 493) (71 360) Net income 523 909 303 263 ESOP related costs 16 123 67 023 M&A costs 3 339 644 Bank fee – acquisition loan S&B 6 482 - One-off expenses related to the bond issue 3 877
Slide 23: Net Interest Costs Guidance
NET INTEREST COSTS GUIDANCE In CZK ‘000 000; G 2025 Interest expenses 901 Hedging impact (124) Deposit revenues (143) Net interest costs 634 Effective interest rate 3,62% ASSUMPTIONS Stable FX rate EUR/CZK No extraordinary debt repayment Stable market interest rates 23
Slide 24: Consolidated Profit and Loss Statement
CONSOLIDATED PROFIT AND LOSS STATEMENT In ‘000 CZK 31 Mar 2025 31 Mar 2024 Revenues from the sale of own products, goods and services 5 512 221 3 667 086 Other operating income 36 167 13 970 Change in inventories developed internally 445 844 13 296 Own work capitalized 73 263 50 647 Raw materials an
Slide 25: Consolidated Balance Sheet 1/2
CONSOLIDATED BALANCE SHEET 1/2 In CZK ‘000 31 Mar 2025 31 Dec 2024 ASSETS Non-current assets Intangible assets 10 140 686 10 403 416 Goodwill 8 422 558 8 489 707 Property, plant and equipment 9 471 829 9 582 545 Equity-accounted securities and investments 45 685 44 102 Financial derivatives 427 220
Slide 26: Consolidated Balance Sheet 2/2
CONSOLIDATED BALANCE SHEET 2/2 In CZK ‘000 31 Mar 2025 31 Dec 2024 EQUITY AND LIABILITIES Capital and reserves Share capital 5 646 5 646 Share premium 13 477 795 13 477 795 Capital funds 1 641 512 1 641 512 Cash flow hedge reserve (47 021) (203 494) Foreign exchange translation reserve (200 974) (68
Slide 27: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT In ‘000 CZK 31 Mar 2025 31 Mar 2024 Cash flows from principal economic activity (operating activity) Profit from ordinary activity before tax 691 402 374 623 Depreciation/amortization of non-current assets 385 362 199 890 Change in allowances and provisions 16 429 (1
Slide 28: Colt CZ Group Structure as of 31/03/2025
COLT CZ GROUP STRUCTURE AS OF 31/03/2025 100% Colt CZ Group SE 291 51 961, Czech Republic 100% 100% 100% 100% 100% 100% 100% 100% 100% Colt CZ Defence Česká zbrojovka Colt CZ Insurance Colt CZ Group swissAA CZG VIB Colt CZ Group Sellier & Bellot EHC-4M, Solutions s.r.o. a.s. Limited International s.
Slide 29: Thank You
THANK YOU Colt CZ Group SE náměstí Republiky 2090/3a 110 00 Prague 1, Czech Republic www.coltczgroup.com info@coltczgroup.com