Colt Cz Group Se · PSECZ:COLT
Colt Cz — H1 2026 Earnings Presentation
34 slides from Colt Cz's earnings presentation, 2026
Slide 1: Colt CZ Group SE Financial Results 6M 2026
COLT CZ GROUP SE FINANCIAL RESULTS 6M 2026 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 Commercia
Slide 3: Presenters
PRESENTERS RADEK JANA MUSIL MATOUŠKOVÁ Vice-chairman of the Chief Financial Officer Board of Directors Colt CZ Group SE CEO of Colt CZ Group SE
Slide 4: Leadership
LEADERSHIP VLADIMÍR JAN MARTIN JILLAIR RADA ZAJÍC DURČÁK KUBISH CEO of Sellier & Bellot a.s. CEO of Česká zbrojovka a.s. Member of the Board President and CEO of Colt’s of Directors of Colt CZ Manufacturing Company Group SE responsible for LLC Energetics segment
Slide 5: Double-digit organic growth and guidance increase
DOUBLE-DIGIT ORGANIC GROWTH AND GUIDANCE INCREASE Colt CZ combined double-digit organic growth in all financial metrics and raised its FY 2026 GUIDANCE Colt CZ entered a new phase of profitable growth, combining record earnings, increased diversification (three complementary business segments) and s
Slide 6: Key financial indicators 6M 2026
KEY FINANCIAL INDICATORS 6M 2026 Revenues Adjusted EBITDA CZK 15,887 mio CZK 4,606 mio 44.2% vs 6M 2025 +95.1% vs 6M 2025 17% vs pro-forma 6M 2025 27% vs pro-forma 6M 2025 Adjusted Net Profit Adjusted EPS CZK 2,011 mio CZK 24.1 100.7% vs 6M 2025 35.2% vs 6M 2025 Adjusted EPS calculated from adjusted
Slide 7: Adj net profit & adj EPS impacted by PPA amortization
ADJ NET PROFIT & ADJ EPS IMPACTED BY PPA AMORTIZATION ADJ NET PROFIT ADJ EPS in mio CZK In CZK 667 2,915 39.3 237 2,011 24.1 2,331 1,427 584 584 Adj Net profit S&B PPA NCL PPA Adj Net profit Adj EPS Adj EPS amortization amortization w/o PPA w/o PPA amortization amortization Profit for the period att
Slide 8: Strategic revenue diversification
STRATEGIC REVENUE DIVERSIFICATION Geographic split Customer segments USA COM 6M 2025 37% 6M 2025 55% 6M 2026 22% 6M 2026 44% Europe (incl. Czech Republic and Ukraine) MLE 6M 2025 48% 6M 2025 45% 6M 2026 55% 6M 2026 56% Europe main market for Energetics and Ammunition segments Colt US delivered signi
Slide 9: Firearms segment 6M 2026
FIREARMS SEGMENT 6M 2026 Geographic split mio CZK vs 6M 2025 Revenues 7,988 37% USA Europe Other ADJ EBITDA 1,355 38% EBITDA margin 17% 56% EBITDA margin 35% 27% 29% 36% 19% 17% incl. FX hedging 6M 2025 6M 2026 6M 2025 6M 2026 6M 2025 6M 2026 Customer segment mio CZK vs 6M 2025 CAPEX 495 63% MLE COM
Slide 10: Firearms segment main drivers of record 6M 2026
FIREARMS SEGMENT MAIN DRIVERS OF RECORD 6M 2026 ► Revenue increase of CZK 2.1bn, 37.4% ► Main drivers of firearms segment performance ► Delivery of significant MLE contracts in Canada, Europe and Asia ► Increase of US COM market for Colt brand about 9% (CZ brand slight decrease) ► Increase of number
Slide 11: Ammunition segment 6M 2026
AMMUNITION SEGMENT 6M 2026 Geographic split mio CZK vs 6M 2025 Revenues 4,945 5% USA Europe Other ADJ EBITDA 1,640 19% EBITDA margin 33.2% 73% 83% EBITDA margin 33.5% 15% 9% 12% 8% incl. FX hedging 6M 2025 6M 2026 6M 2025 6M 2026 6M 2025 6M 2026 Customer segment mio CZK vs 6M 2025 CAPEX 186 210% MLE
Slide 12: Ammunition segment main drivers of record 6M 2026
AMMUNITION SEGMENT MAIN DRIVERS OF RECORD 6M 2026 ► Strong EBITDA margin of 33.2% 19% ► Main drivers of ammunition segment performance ► Europe (MLE) is the main market for ammunition segment with strong position ► The focus on small- and medium- calibre ammunition contributed to higher profitabilit
Slide 13: Energetics segment 6M 2026
ENERGETICS SEGMENT 6M 2026 Geographic split1 mio CZK vs 6M 2025 Revenues 2,955 14% USA Europe Other ADJ EBITDA 1,611 24% EBITDA margin 55% 75% 79% EBITDA margin 55% 13% 9% 12% 12% incl. FX hedging 6M 2025 6M 2026 6M 2025 6M 2026 6M 2025 6M 2026 Product segment1 mio CZK vs 6M 2025 Energetic Power Oth
Slide 14: Energetics segment main drivers of record 6M 2026
ENERGETICS SEGMENT MAIN DRIVERS OF RECORD 6M 2026 ► Excellent EBITDA margin of 55% 24% ► Main drivers of energetics segment performance ► Energetic nitrocellulose creates 70% of segment revenues ► Europe is the main market ► First HY 2026 stronger than 2025 ► Significant part of additional capacity
Slide 15: Indebtedness and strategic deleveraging
INDEBTEDNESS AND STRATEGIC DELEVERAGING Strong cash flow allows flexibility for business and quick acquisition absorption Net debt (CZK mio) Net Leverage Ratio 2.26 2.17 2.80 1.20 17,256 1.80 11,975 8,545 7,465 3,670 2,685 FY 2022 FY 2023 FY 2024 FY 2025 6M 2026 15
Slide 16: Debt structure
DEBT STRUCTURE EXPECTED DEBT MATURITY PROFILE (INC. ACQUISITION FINANCING) In CZK bn/EUR m CZK bn EUR m 6 000 6 000 200 5 000 4 517 150 4 000 107 3 000 100 3 000 1 998 2 000 51 51 51 46 50 1 000 20 0 0 2026 2027 2028 2029 2030 2031 EUR amort 29 EUR loan 29 EUR loan NCL 27 COLTCZ COLTCZ COLTCZ COLTCZ
Slide 17: Cash flow bridge: acquisition and growth capex drive 6M 2026 cash
CASH FLOW BRIDGE: ACQUISITION AND GROWTH CAPEX DRIVE 6M 2026 CASH CZK mio I Cash and cash equivalents 12,819 371 (1,342) (4,571) (1,166) (529) 5.582 Opening cash Operating CAPEX Acquisitions, Loans Treasury share Closing cash 31 Dec 2025 cash flow net of cash buyback 30 Jun 2026 acquired OPERATING C
Slide 18: Capital expenditures: substantial investment growth in 2026
CAPITAL EXPENDITURES: SUBSTANTIAL INVESTMENT GROWTH IN 2026 In CZK mio 1,342 1,800 – 2,000 362 44% 1,035 45% 30% 30% Maintenance CAPEX 56% 55% 70% 70% Growth CAPEX 6M 2025 6M 2026 FY 2025 FY 2026E 18
Slide 19: Guidance 2026: financial metrics summary
GUIDANCE 2026: FINANCIAL METRICS SUMMARY GUIDANCE 2026 increased Growth driven by the new government (MLE) contracts in traditional segements and new Energetics segment Net interest costs 4.3% GUIDANCE In CZK bn 30 – 33 31 – 33 7.4 – 8.2 8.0 – 8.5 FY 2026 GUIDANCE FY 2026 raised GUIDANCE Reven
Slide 20: Guidance 2026 drivers
GUIDANCE 2026 DRIVERS REVENUES ADJ. EBITDA in bn CZK 5.3 33 in bn CZK 0.7 8.5 11.8 3.2 15.9 4.6 6M Revenues Signed MLE COM market Guidance 6M Adj. Signed MLE COM market Guidance Adj. contracts & & Other Revenues EBITDA contracts & & Other EBITDA Other orders opportunities Other orders opportunities
Slide 21: Strong delivery pipeline with backlog exceeding USD 2.5bn
STRONG DELIVERY PIPELINE WITH BACKLOG EXCEEDING USD 2.5bn Framework contract with German Army Canadian Defence Investment Agency - (Bundeswehr) - P13 handguns based replacement for the current C7/C8 assault rifle NATO-type small arms ammunition: on P-10 pistol fleet for CAD 273mn, delivery 2026-2029
Slide 22: Appendix
APPENDIX COLT CZGROUP Wy,
Slide 23: Market advantage, operating at the intersection of firearms, ammunition, and energetics
MARKET ADVANTAGE, OPERATING AT THE INTERSECTION OF FIREARMS, AMMUNITION, AND ENERGETICS SEGMENTS Firearms Ammunition Energetics Colt CZ is one of very few players offering full consolidated portfolio across firearms & ammunition as well as high-barrier energetics markets 23
Slide 24: Adjusted EBITDA reconciliation
ADJUSTED EBITDA RECONCILIATION In CZK ‘000 6M 2026 6M 2025 Operating profit 2 206 459 1 587 284 Depreciation and amortization 1 713 689 770 968 EBITDA 3 920 148 2 358 252 ESOP related costs 245 928 30 945 Legacy costs - 5 389 M&A costs 3 795 15 218 NCL inventory step up 282 879 - S&B commodity hedgi
Slide 25: Adjusted net profit reconciliation
ADJUSTED NET PROFIT RECONCILIATION In CZK ‘000 6M 2026 6M 2025 Earnings before tax 2 076 584 1 195 680 Tax expenses (488 716) (276 414) Net income 1 587 868 919 266 ESOP related costs 245 928 30 945 Legacy costs - 5 389 M&A costs 3 795 15 218 NCL inventory step up 282 879 - Bank fee – acquisition lo
Slide 26: Net interest costs guidance
NET INTEREST COSTS GUIDANCE In CZK ‘000 000 G 2026 Interest expenses 1,223 Hedging impact (116) Deposit revenues (143) Net interest costs 964 Effective interest rate 4.30% ASSUMPTIONS Stable FX rate EUR/CZK Including NCL No extraordinary debt repayment Stable market interest rates No additional debt
Slide 27: Consolidated profit and loss statement
CONSOLIDATED PROFIT AND LOSS STATEMENT In ‘000 CZK 30 Jun 2026 30 Jun 2025 Revenues from the sale of own products, goods and services 15 887 385 11 014 802 Other operating income 190 568 55 243 Change in inventories developed internally 402 114 850 778 Own work capitalized 121 066 143 985 Raw materi
Slide 28: Consolidated balance sheet 1/2
CONSOLIDATED BALANCE SHEET 1/2 In CZK ‘000 30 Jun 2026 31 Dec 2025 ASSETS Non-current assets Intangible assets 20 766 851 9 463 485 Goodwill 12 618 402 9 039 588 Property, plant and equipment 15 464 213 9 896 386 Equity-accounted securities and investments 49 065 45 006 Financial derivatives 291 927
Slide 29: Consolidated balance sheet 2/2
CONSOLIDATED BALANCE SHEET 2/2 In CZK ‘000 30 Jun 2026 31 Dec 2025 EQUITY AND LIABILITIES Capital and reserves Share capital 6 264 5 646 Treasury shares (500 151) (189 767) Share premium 18 076 967 13 477 795 Capital funds 1 641 512 1 641 512 Fund from options to purchase non-controlling interests (
Slide 30: Consolidated cash flow statement
CONSOLIDATED CASH FLOW STATEMENT In ‘000 CZK 30 Jun 2026 30 Jun 2025 Cash flows from principal economic activity (operating activity) Profit from ordinary activity before tax 2 076 584 1 195 680 Depreciation/amortization of non-current assets 1 713 689 770 968 Change in allowances and provisions 29
Slide 31: D&A impact of S&B and NCL acquisition before tax
D&A IMPACT OF S&B AND NCL ACQUISITION BEFORE TAX D&A IMPACT In CZK m 1,981 1,689 1,676 1,549 1,114 606 601 601 340 340 340 940 - - - - - 2025 2026e 2027e 2028e 2029e 2030e D&A D&A PPA S&B D&A PPA NCL COMMENTS In 2026 open acquisition accounting of NCL Acquisition of Power – carve out in Q2 2026 31
Slide 32: Colt CZ Group structure
COLT CZ GROUP STRUCTURE CBC Europe S.à r.l. Kaprain Chemical Limited B 167046 HE 381813 Other shareholders Grand Duchy of Luxembourg Republic of Cyprus 9.86% eq uity/9.95% voting 18.75% eq uity/18.92% voting 23.57% eq uity/23.78% voting HOLDING COMPANIES Česká zbrojovka Partners SE 058 51 777 Czech
Slide 33: Ownership structure
OWNERSHIP STRUCTURE Colt CZ top shareholding (%) Free float Česká zbrojovka Shareholder information Partners SE Česká zbrojovka Partners SE 24.4% Main shareholder Mr. René Holeček, acquired key minority stake in 2001 before becoming a majority shareholder in 2014 C.B.C Europe S.A.R.L 46.9% As part o
Slide 34: Thank you
THANK YOU Colt CZ Group SE náměstí Republiky 2090/3a 110 00 Prague 1, Czech Republic www.coltczgroup.com info@coltczgroup.com