Colt Cz Group Se · PSECZ:COLT
Colt Cz — 6M 2025 Earnings Presentation
30 slides from Colt Cz's earnings presentation, 2025
Slide 1: Colt CZ Group SE Financial Results 6M 2025
COLT CZ GROUP SE FINANCIAL RESULTS 6M 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 6M 2025 AT A GLANCE Chairman of the Board of Directors Colt CZ Group SE 2 FINANCIAL HIGHLIGHTS RADEK MUSIL Vice-chairman of the Board of Directors CEO of Colt CZ Group SE SYNTHESIA NITROCELLULOSE 3 ACQUISITION JAN ZAJÍC Member of the Boar
Slide 4: 6M 2025 at a Glance
6M 2025 AT A GLANCE REVENUES ADJUSTED EBITDA CZK 11,015 m CZK 2,361 m ↑ 13.7% vs 6M 2024 ↑ 19.2% vs 6M 2024 LTM: CZK 24,579 m LTM: CZK 5,210 m ADJUSTED NET PROFIT ADJUSTED EPS CZK 1,002 m CZK 17.8 ↓ 1.3% vs 6M 2024 ↓ 28.4% vs 6M 2024 LTM: CZK 2,067 m LTM: CZK 37.4 P P A I M P ACT CZK 303 m or CZK 5.
Slide 5: Comments on 6M 2025 Performance
COMMENTS ON 6M 2025 PERFORMANCE Ammunition segment retains excellent profitability, growing on the European market, able to offset US commercial market softness. Firearms - H1 2025 performance slower than expected for CZ and Colt WH, only Colt Canada performed above 2024 YTD. CZ is doing well on the
Slide 6: Revenues – Europe Plays a Key Role
REVENUES – EUROPE PLAYS A KEY ROLE REVENUE BREAKDOWN BY GEOGRAPHY REVENUE BREAKDOWN BY GEOGRAPHY – SEGMENTS In % of total revenues In % of total revenues 60% 56% 43% 37% 36% 23% 20% 15% 14% 13% 13% 12% 8% 9% 5% 5% 6% 4% 4% 4% 4% 2% 1% 1% 1% 2% 1% 1% USA Czech Rep. Canada Europe Asia Other Africa USA
Slide 7: 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 11,015 5,534 4,982 28% 21% 17% 499 6% Revenues Adjusted EBITDA Revenues Adjusted EBITDA Revenues Adjusted EBITDA Revenues
Slide 8: Customer Segments
CUSTOMER SEGMENTS 6M 2024 REVENUES BY TYPE OF CUSTOMER 6M 2025 FIREARMS1 FIREARMS1 39% 48% 52% 61% 49% 6M 6M 45% 51% 2024 55% 2025 AMMUNITION1 AMMUNITION1 36% 47% 53% 64% Commercial Military and Law Enforcement Notes: 1 – In percentage of total revenues 8
Slide 9: Higher Seasonality and US Commercial Market Slowdown
HIGHER SEASONALITY AND US COMMERCIAL MARKET SLOWDOWN BREAKDOWN BY FIREARMS UNITS SOLD CZ BRAND In ‘000 units In ‘000 units 0.1% 201 201 -10% 85 96 323 105 116 290 6M 2024 6M 2025 137 115 COLT BRAND In ‘000 units 186 -27% 175 122 89 41 30 81 59 6M 2024 6M 2025 6M 2024 6M 2025 Short guns Long guns Sho
Slide 10: Adjusted Net Profit Without S&B PPA Amortization Effect
ADJUSTED NET PROFIT WITHOUT S&B PPA AMORTIZATION EFFECT NET PROFIT EARNINGS PER SHARE In CZK m In CZK +12.8% -18.0% 1,305 28.24 1,157 3,24 303 23.17 142 83 5,37 10,00 405 1,50 919 15,00 16,30 610 6M 2024 6M 2025 6M 2024 6M 2025 Adjusted by SB PPA Adjusted by SB PPA Adjustments Net profit Adjustments
Slide 11: 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% 3.3% ≤ 5.0% -5.5% 1,100 – 1,300 9 924 921 61 87 680 633 6M 2024 6M 2025 210 362 112 331 266 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 6M 2025 FY 2025e CAPEX CAPEX/Revenue
Slide 12: Indebtedness
INDEBTEDNESS 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 2,80 200 5 000 4 517 2,47 2,24 4 000 150 3 000 3 000 11,975 12,616 100 1,20 1 998 2 000 7,465 51 51 51 51 46 50 2,685 1 000 3,670 20 0 0 2025 2026
Slide 13: Synthesia Acquisition Truly Transformative for the Group
SYNTHESIA ACQUISITION TRULY TRANSFORMATIVE FOR THE GROUP The transaction values 100% of SNC at CZK 20.6bn and 100% of energy business, at CZK 1.4bn at Enterprise Value Transaction multiple at 8.2x EV/EBITDA Current Colt CZ trading multiple 9-10x Producers of military propellants and explosives (Chem
Slide 14: Transaction Details
TRANSACTION DETAILS Colt CZ signed SPA for acquisition of 51% of SNC for CZK 10.5bn Enterprise Value Cash consideration of CZK 5.5bn Expected stock consideration of around CZK 3.7bn based on the following assumptions at closing: Net Debt EUR 107m No working capital adjustment 180 trading days VWAP (
Slide 15: Put/Call Mechanism for the Remaining 49% Stake
PUT/CALL MECHANISM FOR THE REMAINING 49% STAKE PUT option of KAPRAIN for remaining 49% of SNC for CZK 10.1bn Enterprise Value Exercise period during 2 years starting 24 months after closing Cash consideration CZK 3.5bn Expected stock consideration CZK 5.3bn based on the following assumptions at the
Slide 16: NCS Pro-Forma Impact 2025
NCS PRO-FORMA IMPACT 2025 REVENUES NET LEVERAGE RATIO EXPECTED TIMING Signing 8/2025 >15% 2,7x 2,5x NCS Closing 11/2025 – Q1 2026 Carve-out of energy business into a Revenues 2025e Pro-forma revenues 2025 6M 2025 Pro-forma 2025 separate company Net debt Net leverage ratio Acquisition of 51% in energ
Slide 17: Priorities and Guidance 2025
PRIORITIES AND GUIDANCE 2025 Změnit fotku REVENUES EBITDA CZK 25 bn CZK 5.5 bn plus/minus 10% plus/minus 10% Net interest costs CZK 599 mio Indicative split per quarters (updated) CZK bn Q1 Q2 Q3 Q4 FY 2025 Revenues 5.5 5.5 5.0 9.0 25 Adj. EBITDA 1.2 1.1 1.2 2.0 5.5 Notes: Guidance is based on the m
Slide 18: 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 19: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION Al WY COLT CZGROUP
Slide 20: Appendix
APPENDIX COLT CZGROUP Wy,
Slide 21: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION In CZK ‘000 6M 2025 6M 2024 Operating profit 1 587 284 898 774 Depreciation and amortization 770 968 560 821 EBITDA 2 358 252 1 459 595 ESOP related costs 30 945 382 185 M&A costs 15 218 962 Legacy costs 5 389 - S&B inventory step up - 110 000 S&B commodity hedging (48
Slide 22: Adjusted Net Profit Reconciliation
ADJUSTED NET PROFIT RECONCILIATION In CZK ‘000 6M 2025 6M 2024 Earnings before tax 1 195 680 794 788 Tax expenses (276 414) (185 170) Net income 919 266 609 618 ESOP related costs 30 945 382 185 M&A costs 15 218 962 Legacy cost 5 389 - S&B inventory step up - 110 000 Bank fee – acquisition loan S&B
Slide 23: Net Interest Costs Guidance
NET INTEREST COSTS GUIDANCE In CZK ‘000 000; G 2025 Interest expenses 852 Hedging impact (112) Deposit revenues (141) Net interest costs 599 Effective interest rate 3,64% ASSUMPTIONS Stable FX rate EUR/CZK No extraordinary debt repayment Stable market interest rates No additional debt financing incl
Slide 24: Consolidated Profit and Loss Statement
CONSOLIDATED PROFIT AND LOSS STATEMENT In ‘000 CZK 30 Jun 2025 30 Jun 2024 Revenues from the sale of own products, goods and services 11 014 802 9 690 015 Change in inventories developed internally 850 778 217 161 Raw materials and consumables used (5 570 674) (5 453 456) Personnel costs (2 502 828)
Slide 25: Consolidated Balance Sheet 1/2
CONSOLIDATED BALANCE SHEET 1/2 In CZK ‘000 30 Jun 2025 31 Dec 2024 ASSETS Non-current assets Intangible assets 9 797 868 10 403 416 Goodwill 9 025 018 8 489 707 Property, plant and equipment 9 779 922 9 582 545 Equity-accounted securities and investments 47 943 44 102 Financial derivatives 844 755 4
Slide 26: Consolidated Balance Sheet 2/2
CONSOLIDATED BALANCE SHEET 2/2 In CZK ‘000 30 Jun 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 178 845 (203 494) Foreign exchange translation reserve (375 112) (68
Slide 27: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT In ‘000 CZK 30 Jun 2025 30 Jun 2024 Cash flows from principal economic activity (operating activity) Profit from ordinary activity before tax 1 195 680 794 788 Depreciation/amortization of non-current assets 770 968 560 821 Change in allowances and provisions 69 504
Slide 28: 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 29: Colt CZ Group Structure
COLT CZ GROUP STRUCTURE 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.r.o. Holding AG s
Slide 30: Thank You
THANK YOU Colt CZ Group SE náměstí Republiky 2090/3a 110 00 Prague 1, Czech Republic www.coltczgroup.com info@coltczgroup.com