Declared Dividend • Jun 28
Dividend of Kč30.00 announced Shareholders will receive a dividend of Kč30.00. Ex-date: 1st July 2026 Dividend yield will be 82%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (87% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 32% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 104% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 27
Colt CZ Group SE announces Annual dividend Colt CZ Group SE announced Annual dividend of CZK 30.0000 per share, ex-date on July 01, 2026 and record date on July 02, 2026. Announcement • Jun 01
Colt CZ Group SE, Annual General Meeting, Jun 26, 2026 Colt CZ Group SE, Annual General Meeting, Jun 26, 2026. Reported Earnings • May 22
First quarter 2026 earnings released: EPS: Kč8.00 (vs Kč9.28 in 1Q 2025) First quarter 2026 results: EPS: Kč8.00 (down from Kč9.28 in 1Q 2025). Revenue: Kč7.47b (up 33% from 1Q 2025). Net income: Kč437.3m (down 17% from 1Q 2025). Profit margin: 5.9% (down from 9.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. New Risk • May 22
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 67% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (67% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Board Change • May 20
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Director Jan Zajic is the most experienced director on the board, commencing their role in 2020. Independent Member of the Supervisory Board Daniel Birmann was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Dec 30
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 5 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). CEO of CZUB & Director Jan Zajíc is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Aug 29
Colt CZ Group SE (SEP:CZG) entered into a share purchase and sale agreement to acquire 51% stake in Synthesia Nitrocellulose, A.S. from SYNTHESIA, a.s. for an enterprise value of CZK 22 billion. Colt CZ Group SE (SEP:CZG) entered into a share purchase and sale agreement to acquire 51% stake in Synthesia Nitrocellulose, A.S. from SYNTHESIA, a.s. for an enterprise value of CZK 22 billion on August 28, 2025. A cash consideration will be paid by Colt CZ Group SE. The purchase price will be paid through a combination of cash and the issuance of new common shares of Colt CZ, which will represent approximately 40% of the purchase price. The total transaction price is CZK 22 billion based on enterprise value, corresponding to approximately an 8.2x multiple of the expected 2025 EBITDA. Colt CZ will acquire a 51% stake now, with the remaining 49% to follow under already agreed terms in the medium term. Upon completion of the transaction, Kaprain will become the third largest shareholder of Colt CZ. Synthesia, a.s. will remain the owner of the remaining shares of SNC. In connection with the transaction, Colt CZ Group has also agreed to acquire the energy division of Synthesia, a.s.
The transaction will be settled after the conditions precedent are met, in particular regulatory approvals by authorities in various countries, which is expected no later than in the first quarter of 2026. Announcement • Jun 27
Colt CZ Group SE announces Annual dividend, payable on October 04, 2025 Colt CZ Group SE announced Annual dividend of CZK 15.0000 per share payable on October 04, 2025, ex-date on July 03, 2025 and record date on July 04, 2025. Announcement • May 30
Colt CZ Group SE, Annual General Meeting, Jul 02, 2025 Colt CZ Group SE, Annual General Meeting, Jul 02, 2025. New Risk • Sep 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.1% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (263% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.8% net profit margin). New Risk • Sep 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.1% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Announcement • Jun 25
Colt CZ Group SE, Annual General Meeting, Jun 27, 2024 Colt CZ Group SE, Annual General Meeting, Jun 27, 2024. New Risk • Jun 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.1% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Reported Earnings • May 26
First quarter 2024 earnings released: EPS: Kč8,000 (vs Kč16.99 in 1Q 2023) First quarter 2024 results: EPS: Kč8,000. Revenue: Kč3.73b (up 22% from 1Q 2023). Net income: Kč303.3m (down 48% from 1Q 2023). Profit margin: 8.1% (down from 19% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Germany. Announcement • May 18
Colt CZ Group SE (SEP:CZG) completed the acquisition of Sellier & Bellot JSC from Cbc Europe S.à R.L. for $703 million. Colt CZ Group SE (SEP:CZG) executed an agreement to acquire Sellier & Bellot JSC from Cbc Europe S.à R.L. on December 18, 2023. Colt CZ shall acquire 100% of shares of Sellier & Bellot for the combination of the cash consideration in the amount of $350 million and a new issue of Colt CZ common stock leading to a 27–28% CBC’s stake in the share capital of Colt CZ Group post transaction. The acquisition will be financed through a combination of the Company's existing cash resources and debt financing. The transaction is subject to regulatory approval in various countries and is expected to close in the first half of 2024. Colt CZ Group SE (SEP:CZG) completed the acquisition of Sellier & Bellot JSC from Cbc Europe S.à R.L. for $703 million on May 16, 2024. Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: Kč58.00 (vs Kč59.53 in FY 2022) Full year 2023 results: EPS: Kč58.00. Revenue: Kč15.1b (up 2.3% from FY 2022). Net income: Kč2.04b (flat on FY 2022). Profit margin: 14% (in line with FY 2022). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Germany. Announcement • Dec 19
Colt CZ Group SE (SEP:CZG) executed an agreement to acquire Sellier & Bellot JSC from Cbc Europe S.à R.L. Colt CZ Group SE (SEP:CZG) executed an agreement to acquire Sellier & Bellot JSC from Cbc Europe S.à R.L. on December 18, 2023. Colt CZ shall acquire 100% of shares of Sellier & Bellot for the combination of the cash consideration in the amount of $350 million and a new issue of Colt CZ common stock leading to a 27–28% CBC’s stake in the share capital of Colt CZ Group post transaction. The acquisition will be financed through a combination of the Company's existing cash resources and debt financing. The transaction is subject to regulatory approval in various countries and is expected to close in the first half of 2024. New Risk • Nov 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (265% cash payout ratio). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Announcement • Nov 24
Colt CZ Group SE (SEP:CZG) submits an unsolicited proposal to acquire remaining 97.6% stake in Vista Outdoor Inc. (NYSE:VSTO) from Ceska Zbrojovka Partners SE, Leima Equity Two A.S., René Holecek, Jan Drahota and others for approximately $1.7 billion. Colt CZ Group SE (SEP:CZG) submits an unsolicited proposal to acquire remaining 97.6% stake in Vista Outdoor Inc. (NYSE:VSTO) from Ceska Zbrojovka Partners SE, Leima Equity Two A.S., René Holecek, Jan Drahota and others for approximately $1.7 billion on November 22, 2023. Pursuant to the acquisition, which Colt CZ and Vista Outdoor would be combined in a cash and stock transaction that Colt CZ states would attribute a value of $30 to each share of Vista Outdoor common stock. The transaction include a $900 million share repurchase to be executed following closing of the proposed transaction. Vista Outdoor’s Board of Directors has not made any determination with respect to the Colt CZ Proposal. Vista Outdoor’s Board of Directors will carefully review the Colt CZ Proposal, in accordance with its fiduciary duties and its obligations under the existing merger agreement with CSG, in consultation with its financial and legal advisors. New Risk • Oct 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (288% cash payout ratio). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Reported Earnings • Sep 20
Second quarter 2023 earnings released: EPS: Kč13.05 (vs Kč16.42 in 2Q 2022) Second quarter 2023 results: EPS: Kč13.05 (down from Kč16.42 in 2Q 2022). Revenue: Kč3.95b (up 12% from 2Q 2022). Net income: Kč458.3m (down 18% from 2Q 2022). Profit margin: 12% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Aerospace & Defense industry in Germany. New Risk • Jul 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risks High level of debt (42% net debt to equity). Dividend is not well covered by cash flows (144% cash payout ratio). Announcement • Jun 29
Colt CZ Group SE (SEP:CZG) acquired swissAA Holding AG. Colt CZ Group SE (SEP:CZG) acquired swissAA Holding AG on June 28, 2023. The acquisition was financed from the Company's existing cash resources, including recent bond issue.Colt CZ Group SE (SEP:CZG) completed the acquisition of swissAA Holding AG on June 28, 2023. Buying Opportunity • Jun 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.1%. The fair value is estimated to be €30.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 40%. Buying Opportunity • May 29
Now 20% undervalued Over the last 90 days, the stock is up 1.2%. The fair value is estimated to be €31.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 31%. Buying Opportunity • Apr 02
Now 20% undervalued Over the last 90 days, the stock is up 6.8%. The fair value is estimated to be €30.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 32%. Buying Opportunity • Mar 17
Now 21% undervalued Over the last 90 days, the stock is up 6.2%. The fair value is estimated to be €30.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings is also forecast to grow by 10% per annum over the same time period. Buying Opportunity • Feb 23
Now 20% undervalued Over the last 90 days, the stock is up 9.6%. The fair value is estimated to be €30.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings is also forecast to grow by 10% per annum over the same time period. Buying Opportunity • Feb 08
Now 21% undervalued Over the last 90 days, the stock is up 8.2%. The fair value is estimated to be €30.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings is also forecast to grow by 10% per annum over the same time period. Board Change • Nov 16
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman of the Board & President Jan Drahota is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Sep 28
Second quarter 2022 earnings released: EPS: Kč16.86 (vs Kč9.36 in 2Q 2021) Second quarter 2022 results: EPS: Kč16.86 (up from Kč9.36 in 2Q 2021). Revenue: Kč3.58b (up 29% from 2Q 2021). Net income: Kč560.0m (up 81% from 2Q 2021). Profit margin: 16% (up from 11% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Board Change • Apr 27
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Vice-Chairman of the Board of Directors Alice Poluchova is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 20% share price gain to €24.90, the stock trades at a trailing P/E ratio of 19.2x. Average forward P/E is 21x in the Aerospace & Defense industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €46.67 per share. Buying Opportunity • Jan 25
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 1.4%. The fair value is estimated to be Kč26.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% per annum over the last 3 years. Earnings per share has grown by 18% per annum over the last 3 years. Reported Earnings • Nov 27
Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint Third quarter 2021 results: EPS: Kč9.69 (up from Kč3.06 in 3Q 2020). Revenue: Kč2.94b (up 80% from 3Q 2020). Net income: Kč315.8m (up 246% from 3Q 2020). Profit margin: 11% (up from 5.6% in 3Q 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.7%. Over the next year, revenue is forecast to grow 31%, compared to a 25% growth forecast for the industry in Germany. Reported Earnings • Sep 30
Second quarter 2021 earnings released: EPS Kč9.00 (vs Kč15.11 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: Kč2.76b (up 26% from 2Q 2020). Net income: Kč309.1m (down 30% from 2Q 2020). Profit margin: 11% (down from 20% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • May 30
First quarter 2021 earnings released: EPS Kč8.00 (vs Kč2.00 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: Kč2.06b (up 62% from 1Q 2020). Net income: Kč275.6m (up Kč334.8m from 1Q 2020). Profit margin: 13% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improved over the past week After last week's 16% share price gain to Kč17.05, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 20x in the Aerospace & Defense industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €25.19 per share. Reported Earnings • Apr 02
Full year 2020 earnings released The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: Kč6.99b (up 15% from FY 2019). Net income: Kč676.6m (down 7.1% from FY 2019). Profit margin: 9.7% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses. 
