CSG at MSPO 2026 salon: focus on its military vehicles and munitions in Poland
Industrial and technology group CSG has detailed its participation at the MSPO salon in Kielce, Poland.
It will present a range of military vehicles, munitions and command systems, several of which are being shown for the first time, with some making their Polish debut.
According to the press release published on September 2, 2026, CSG group companies will exhibit at the 34th edition of the MSPO salon, which will take place from September 8 to 11 in Kielce.
Notable participants will include Tatra Export, Excalibur Army, Tatra Defence, MSM Group, Vývoj Martin, AviaNera Technologies, as well as CSG Polska and Domar MS.
Products will be displayed in hall 4, at stand E20, and in outdoor exhibition spaces 2Z-07 and 6Z-07. The group considers MSPO as one of the most important salons in its sector in Europe, alongside Eurosatory in Paris.
Vehicles, munitions and command posts on the agenda
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Tatra Export will present the Polish debut of the third generation of the Tatra Force line in military version with 8×8 chassis. Tatra Defence will unveil for the first time the Tadeas 4×4 vehicle on Tatra chassis, while Excalibur Army will showcase the Patriot 4×4 armored vehicle equipped with the Alakran mortar system.
MSM Group will bring together several manufacturers of medium and large-caliber munitions, including companies ZVS, VOP Nováky, Fábrica de Municiones Granada and ZVI Vsetín, notably featuring NATO-standard 155 mm artillery munitions.
Vývoj Martin will exhibit two containerized mobile workstations dedicated to command and communications, and AviaNera Technologies will present the compact jet engine from the MTJ300 series intended for unmanned systems.
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SectorAéronautique et Défense›Défense
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 3 251 millions d'euros
Quarterly revenue: 3 251 millions d'euros
Revenue growth: 17,2 %
EBITDA: 863 millions d'euros
EBITDA margin: 26,5 %
Net income: 571 millions d'euros
Free cash flow: -742 millions d'euros
2 914 millions d'euros
Guidance from the release
CSG continues to expect revenue in the range of €7.4 to €7.6bn, Operating EBIT margin of approximately 24–25%
Risks mentioned
Flux de trésorerie opérationnel avant impôt négatif de 411 M€ lié au pré-stockage de composants
Ratio dette nette/EBITDA à 1,6x, en hausse par rapport à l'objectif de fin d'année de 1,3x
Besoin en fonds de roulement net représentant 40,1 % du chiffre d'affaires LTM, en forte hausse
Opportunities identified
Carnet de commandes et pipeline total en hausse à 46 milliards d'euros contre 44 milliards en mars 2026
Lancement de CSG Land Systems North America pour développer la présence sur le plus grand marché de défense mondial
Création de la coentreprise Firecrest Aerospace pour la propulsion de drones et systèmes sans pilote
Outlook / guidance
Expected revenue: 7 500 millions d'euros
Management commentary: CSG continues to expect revenue in the range of €7.4 to €7.6bn, Operating EBIT margin of approximately 24–25%, capex intensity of approximately 8.5% of revenue, and net working capital below 20% of revenue.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
