Colt CZ Group increased revenues, but profit fell by 41.7 percent year-on-year
Holding Colt CZ Group SE (Colt CZ) $CZG.PR+1.7% published its results for the first half of this year. The company's revenue rose to CZK 9.69 billion, up 41.2 percent year-on-year. The growth was driven by increased sales in the second quarter and the consolidation of the acquisition of Sellier & Bellot, a major ammunition manufacturer in Vlasim.
Despite higher revenues, Colt CZ's net profit fell 41.7 percent to CZK 609.6 million. According to the holding's representatives, this decline was mainly due to an increase in depreciation and amortisation related to the acquisition of Sellier & Bellot, as well as a revaluation of inventories following the integration of this ammunition manufacturer. Other factors were costs associated with the release of shares under the employee stock option plan and lower income from financing operations.
In the first half of this year, the holding company sold 323,365 guns, a year-on-year increase of 2.8 per cent. Adjusted EBITDA, which takes into account earnings before interest, taxes, depreciation and amortisation, increased by 35.3 per cent to around CZK 1.98 billion.
These results are based on consolidated unaudited data provided by the company to the Czech Press Agency (CTK) today.
Colt CZ Group SE
CZG.PRWhat do you think of Colt's half-year results? Are you satisfied or not?
Not a bad company, but I'm more interested in $LMT+1.2% or $RHM.DE-1.2% stock.
I'm all set. I don't have a big profit there yet, but I understand those results and the drop in profits can be justified. I trust the company.