Colt CZ: Revenue up 44.2% in first half, annual targets raised
The integration of Synthesia Nitrocellulose since January 1, 2026 is reshaping Colt CZ Group's business model. Consolidated for the first time, the energy business provides a third pillar alongside firearms and ammunition, with an adjusted EBITDA margin of 54.5% in the first half.
This new segment contributes to a 44.2% increase in revenue and a 72.7% rise in net profit, while prompting the group to raise its annual targets.
Revenue up 44.2% to 15.9 billion crowns
Colt CZ Group published its unaudited consolidated results for the first half of 2026 on September 17, 2026, ending June 30. Revenue reached 15.9 billion Czech crowns, up 44.2% year-on-year, driven by organic growth in traditional segments serving military and law enforcement customers, and by the consolidation of the energy segment following the acquisition of Synthesia Nitrocellulose and Synthesia Power.
Adjusted EBITDA stood at 4.6 billion crowns, up 95.1% year-on-year, reflecting higher margins, particularly in ammunition and energy. Net profit reached 1.6 billion crowns, up 72.7% compared to the first half of 2025, driven by strengthened operational profitability and the consolidation of the energy segment from January 1, 2026.
Firearms up 37.4%, ammunition down 5.0%
The firearms segment generated 8.0 billion crowns, up 37.4% year-on-year. The number of firearms sold increased by 0.6% to 291,724 units, with long gun sales up 10.0% to 126,276 units and short gun sales down 5.5% to 165,448 units.
The ammunition segment declined 5.0% to 4.9 billion crowns, due to lower sales linked to the Czech ammunition initiative. Its adjusted EBITDA margin stood at 33.2%, compared to 26.5% in the first half of 2025.
The energy segment, consolidated for the first time, achieved revenue of 3.0 billion crowns, up 14.3% on a pro forma basis, with adjusted EBITDA of 1.6 billion and a margin of 54.5%. By region, revenues in Canada reached 1.9 billion crowns, up 271%, thanks to a rifle supply contract with the Canadian military, while sales in the United States fell 12.7% to 3.5 billion, due to the seasonality of military contracts and U.S. tariffs.
2026 guidance raised to 31.0-33.0 billion crowns
The group is raising its 2026 guidance and now targets revenue of 31.0 to 33.0 billion crowns and adjusted EBITDA of 8.0 to 8.5 billion. This increase is based on a high level of expected revenue already covered by confirmed orders in the military and law enforcement segment.
The energy segment is presented as a key growth driver for 2026: the company expects it to represent approximately 16% of total revenue and approximately one-third of adjusted EBITDA. Among recent contracts, Colt Canada won a contract from the Canadian government in March for the modernization of C7/C8 rifles, with the delivery of 30,000 assault rifles between 2026 and 2029.
First half 2026 revenue represents approximately 68% of the 2025 fiscal year revenue, which stood at 23.4 billion crowns.
