29. April 2024

Primoco UAV published its annual report for 2023. The uav manufacturer achieved a sixfold increase in revenues and a 115% appreciation in share price.

Primoco UAV SE, a Czech manufacturer of civilian and military One 150 UAVs, has published its annual report for the last year. The company's sales increased sixfold year-on-year and reached almost CZK 600 million. EBITDA reached CZK 276 million with an operating margin of 46%.

“Last year brought record economic and operational results for our company. Along with the growth in sales, we have also made significant progress in preparing the company’s development for the longer term, entering into co-operation with Airbus Defence and Space and its subsidiary Airbus Airborne Solutions (ADAS), which opens up opportunities for us to reach out to the company’s clients.” says Ladislav Semetkovský, CEO and majority shareholder of Primoco UAV.

Thanks to Primoco UAV, the Czech Republic ranked second in the worldwide ranking of medium-sized UAV deliveries. This market segment was dominated by US manufacturers with a two thirds share and Primoco UAV with one third share. The demand for unmanned devices is steadily growing due to the geopolitical situation, and among those interested in these products are both armed forces, security forces and private companies that realize the benefits and importance of unmanned systems.

Since 29 January 2024, the company’s shares have been listed on the Prague Stock Exchange’s main market (Prime Market) and on 18 March 2024 they also became part of the PX index. Shares of Primoco UAV have seen significant growth in the past year thanks to good financial results and a positive outlook for the future. As of 31 December 2022 the securities were trading on the stock exchange at CZK 410 apiece, but by the end of December 2023 their price had risen to CZK 885.

At the same time, the company is continuing the project of revitalization of the Písek – Krašovice airport facility. In addition to the new assembly hall, the site will also house a new control centre for the operation of Primoco UAVs worldwide, a modern pilot training centre and a research department for the development and testing of new technologies. Construction is scheduled to start in 2025, which would allow the company to increase its total supply capacity to more than triple the current level in 2027.

The Board of Directors of Primoco UAV SE convenes an Ordinary General Meeting of Shareholders to be held on 31 May 2024 at 10:00 a.m. at the company’s premises at Výpadová 1563/29f, Prague 5 – Radotín.

Download the annual report here.

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