STV Group reports record 7.5 billion CZK profit amid defense demand

STV Group, a Czech defense group, reported its most successful year to date, with net profits rising nearly 40 percent to 7.5 billion CZK. Revenues more than doubled year-on-year, reaching 24.4 billion CZK, compared to 11.6 billion CZK the previous year.

The company attributed this growth to the conflict in Ukraine, which began in February 2022. While the group initially supplied military equipment through the resale of third-party stock, it has since shifted toward domestic production. As of 2024, the vast majority of sales are realized through its own manufacturing processes.

To increase profitability despite falling market prices for military hardware, STV Group invested heavily in its own capacities. The company has fully localized the production of shell bodies for 155 mm, 152 mm, and 122 mm artillery ammunition and is working toward self-sufficiency in smokeless powders and artillery fuses. The group also fulfills contracts for Leopard 2A4 tank ammunition and supplies for Caesar artillery systems.

Owned by Martin Drda and Ludmila Drdová under the STV Invest holding, the group employs 570 people and includes Poličské strojírny, which specializes in large-caliber ammunition and military equipment repairs.