Colt Cz Group Se · PSECZ:COLT
Colt Cz — FY2024 Earnings Presentation
28 slides from Colt Cz's earnings presentation, 2025
Slide 1: Colt CZ Group SE Preliminary Financial Results 2024
COLT CZ GROUP SE PRELIMINARY FINANCIAL RESULTS 2024 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 2024 PRELIMINARY UNADJUSTED RESULTS Chairman of the Board of Directors Colt CZ Group SE RADEK MUSIL 2 FINANCIAL HIGHLIGHTS Vicechairman of the Board of Directors CEO of Colt CZ Group SE 3 2025 GUIDANCE JAN ZAJÍC Member of the Board of Dir
Slide 4: 2024 Preliminary Unaudited Results
2024 PRELIMINARY UNAUDITED RESULTS REVENUES ADJUSTED EBITDA CZK 22,376 m CZK 4,599 m ↑ 50.6% vs 2023 ↑ 50.9% vs 2023 ADJUSTED NET PROFIT ADJUSTED EPS CZK 1,933 m CZK 41 ↓ 5.7% vs 2023 ↓ 29.8% vs 2023 4 1
Slide 5: Preliminary Results 2024 – Comments
PRELIMINARY RESULTS 2024 – COMMENTS Record organic growth of revenues (+17.6%), accompanied with a flat adj. EBITDA profitability. The acquisition of S&B had a significant positive effect on both revenue growth and adjusted EBITDA, supported by the company’s strong operating profitability. Double-di
Slide 6: 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 55% 52% 42% 40% 28% 27% 20% 18% 17% 15% 13% 12% 11% 7% 5% 5% 4% 4% 4% 4% 4% 2% 1% 1% 1% 1% 1% 0% USA Czech Rep. Canada Europe e
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 22,376 14,372 5,871 21% 20% 26% 2,133 4% Revenues Adjusted EBITDA Revenues Adjusted EBITDA Revenues Adjusted EBITDA Revenu
Slide 8: FY 2024 Customer Segments Split 50:50
FY 2024 CUSTOMER SEGMENTS SPLIT 50:50 FY2023 REVENUES BY TYPE OF CUSTOMER FY 2024 FIREARMS1 FIREARMS1 48% 52% 46% FY 46% 49% FY 54% 51% 54% 2023 2024 AMMUNITION1 39% 61% Commercial Military and Law Enforcement COMMENTS MLE share grew from 10% to 50% since IPO Notes: 1 – In percentage of total revenu
Slide 9: FY 2024 Record Year in Group's History
FY 2024 RECORD YEAR IN GROUP’S HISTORY BREAKDOWN BY FIREARMS UNITS SOLD QUARTERLY REVENUES & ADJ. EBITDA SEASONALITY In ‘000 units In CZK m +2% 7,404 621 634 6,023 5,282 247 281 4,945 4,370 3,848 3,667 3,554 3,496 3,171 3,013 3,050 374 353 1,492 1,577 955 1,024 1,113 1,041 840 683 781 488 546 471 FY
Slide 10: FY 2024 Net Profit Affected by Financial Result and One-offs
FY 2024 NET PROFIT AFFECTED BY FINANCIAL RESULT AND ONE-OFFS ADJUSTED VS. REPORTED NET PROFIT ADJUSTED EARNINGS PER SHARE1 In CZK m In CZK -5.7% -29.8% 2,050 57.7 9 1,933 0.2 41 888 19 2 041 57,5 1 045 22 FY 2023 FY 2024 FY 2023 FY 2024 Adjustments Net profit Adjustments EPS COMMENTS Full breakdown
Slide 11: Capex in Line with 2024 Guidance
CAPEX IN LINE WITH 2024 GUIDANCE CAPITAL EXPENDITURES1 CAPEX GEOGRAPHICAL SPLIT CZK m/% In CZK m Guidance2 4.8% 5.9% 4.7% 6.2% 4.1% 4.0% ≤ 5.0% 54.7% 1,100 – 1,300 924 921 117 153 680 362 633 FY 2023 223 FY 2024 331 581 409 FY 2020 FY 2021 FY 2022 FY 2023 FY 20243 FY 2025e CAPEX CAPEX/Revenues Czech
Slide 12: 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 5,000 90 90 5 000 80 2.26 70 4 000 60 51 51 51 51 3 000 50 2,518 1.20 11,975 40 1,998 2 000 30 7,465 20 2 685 20 1 0
Slide 13: 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 14: Priorities and Guidance 2025
PRIORITIES AND GUIDANCE 2025 REVENUES EBITDA CZK 25 bn CZK 5.5 bn ↑ 12% yoy ↑ 20% yoy plus/minus 7% plus/minus 7% Net interest costs CZK 631 mio Indicative split per quarters CZK bn Q1 Q2 Q3 Q4 FY 2025 Revenues 5.2 6.3 6 7.5 25 Adj. EBITDA 1.0 1.5 1.3 1.7 5.5 Notes: Guidance is based on the manageme
Slide 15: 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 16: Risks and Opportunities for Guidance
RISKS AND OPPORTUNITIES FOR GUIDANCE RISKS OPPORTUNITIES Further deterioration of the US commercial Some of the potential contracts would be market, global economic outlook historically large for the Group if finally signed, and deliveries started in 2025. Timing to market of key products in the pip
Slide 17: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION Al WY COLT CZGROUP
Slide 18: Appendix
APPENDIX COLT CZGROUP Wy,
Slide 19: FY 2024 Guidance vs Actuals
FY 2024 GUIDANCE VS ACTUALS ACTUAL In CZK m 25,095 22,378 17,474 3,118 4,599 5,430 FY 2024e Colt CZ without S&B FY 2024e Colt CZ post acquisition FY 2024e Colt CZ pro forma S&B consolidated full year S&B consolidated since May 16, 2024 Revenues Adjusted EBITDA GUIDANCE In CZK m 23,000-25,000 20,000-
Slide 20: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION In CZK ‘000 FY 2024 FY 2023 Operating profit 2,001,018 1,861,966 Depreciation and amortization 1,478,824 801,721 EBITDA 3,479,842 2,663,687 ESOP related costs 418,730 313,455 M&A costs1 14,960 71,237 S&B inventory step up 513,596 - S&B commodity hedging 56,334 - Wasted
Slide 21: Adjusted Net Profit Reconciliation
ADJUSTED NET PROFIT RECONCILIATION In CZK ‘000 FY 2024 FY 2023 Earnings before tax 1,379,838 2,509,562 Tax expenses (335,263) (467,024) Net income 1,044,575 2,042,538 Earn-out revaluation - ESOP related costs 418,730 313,455 M&A costs1 14,960 71,237 Wasted project – Bolt action rifles 69,624 - Waste
Slide 22: Net Interest Costs Guidance
NET INTEREST COSTS GUIDANCE In CZK ‘000 000; G 2025 Interest expenses 898 Hedging impact -124 Deposit revenues -143 Net interest costs 631 Effective interest rate 3.7% ASSUMPTIONS Stable FX rate EUR/CZK No extraordinary debt repayment Stable market interest rates 22
Slide 23: Consolidated Profit and Loss Statement
CONSOLIDATED PROFIT AND LOSS STATEMENT In ‘000 CZK 31 Dec 2024 31 Dec 2023 Revenues from the sale of own products, goods and services 22,375,792 14,855,581 Other operating income 159,638 89,789 Change in inventories developed internally (629,980) 887,593 Own work capitalized 338,746 172,976 Raw mate
Slide 24: Consolidated Balance Sheet 1/2
CONSOLIDATED BALANCE SHEET 1/2 In CZK ‘000 31 Dec 2024 31 Dec 2023 ASSETS Non-current assets Intangible assets 10,403,416 3,413,881 Goodwill 8,489,707 2,547,480 Property, plant and equipment 9,582,545 4,281,449 Advance payment for financial investment - 2,690,040 Equity-accounted securities and inve
Slide 25: Consolidated Balance Sheet 2/2
CONSOLIDATED BALANCE SHEET 2/2 In CZK ‘000 31 Dec 2024 31 Dec 2023 EQUITY AND LIABILITIES Capital and reserves Share capital 5,646 3,516 Share premium 13,477,795 1,942,818 Capital funds 1,641,512 1,641,512 Cash flow hedge reserve (203,494) 599,816 Foreign exchange translation reserve (68,137) (142,6
Slide 26: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT In ‘000 CZK 31 Dec 2024 31 Dec 2023 Cash flows from principal economic activity (operating activity) Profit from ordinary activity before tax 1,379,838 2,509,562 Depreciation/amortization of non-current assets 1,478,824 801,721 Change in allowances and provisions 170
Slide 27: Colt CZ Group Structure as of 31/12/2024
COLT CZ GROUP STRUCTURE AS OF 31/12/2024 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 28: Thank You
THANK YOU Colt CZ Group SE náměstí Republiky 2090/3a 110 00 Prague 1, Czech Republic www.coltczgroup.com info@coltczgroup.com