CSG’s 83% Profit Surge and Index Entry Fail to Slow 60% Slide From IPO Peak
23.06.2026 - 03:45:46 | boerse-global.de
The Czechoslovak Group’s stock remains trapped in a deepening slide even as the defence company joins two European indices and posts a record €17 billion order book. Shares of the munitions and air defence specialist closed at €13.99 on Monday, down roughly 2% on the session and a staggering 60% below the €36.05 peak reached shortly after its January IPO on Euronext in Amsterdam.
The sell-off has been relentless. Over the past 30 days alone, the stock has shed about a quarter of its value, leaving it barely above its all-time low of €13.65. The inclusion in the STOXX Europe 600 Optimised Cyclicals and the Industrial Goods & Services indexes this week, a milestone that typically draws institutional attention, has so far done nothing to reverse the trend. Even the placement price of €25 from the €3 billion IPO now looks distant.
Operationally, the picture could hardly be more different. CSG reported a 14% jump in first-quarter revenue to €1.54 billion, while net income surged 83% year-on-year. Operating profit reached €372 million, underpinned by NATO allies replenishing depleted stockpiles. The order backlog swelled to €17 billion by the end of March, and management confirmed its full?year revenue target of up to €7.6 billion.
Should investors sell immediately? Or is it worth buying CSG?
The company used this week’s Eurosatory defence exhibition in Paris to unveil its new Trident air?defence system, designed to protect military installations from drones and missiles. It also announced a strategic partnership with Ukrainian Armor LLC, a local defence firm, further cementing CSG’s position as the world’s largest seller of small?calibre ammunition.
Yet none of that has stopped the share price from wilting. The stock is trading well below its 50?day moving average of €17.41, and the relative strength index hovers around 33–34, deep in oversold territory. Daily volatility remains extreme at nearly 56%, leaving the stock vulnerable to further falls if the support at the previous trough fails to hold.
Investors now await the first?half results due on 7 August. With the gap between operating strength and market sentiment so wide, robust numbers could be the catalyst needed to finally check the downward momentum. Until then, CSG’s stock remains a study in contradictions — a booming business trapped in a bear market of its own making.
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