CSG N.V./€CSG

1D1W1MYTD1Y5YMAX

About CSG N.V.

Ticker
€CSG
Sector
Industrials
Primary listing
AEX
Employees
-
Headquarters
Prague, Czech Republic
Website
czechoslovakgroup.com

CSG N.V. Metrics

BasicAdvanced
€15B
-
-
-
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Bulls say / Bears say

CSG is still delivering strong operational growth. H1 revenue rose 17.2% to €3.251 billion, operating EBIT increased 12.7% to €784 million, and management reaffirmed its €7.4–€7.6 billion 2026 revenue and 24–25% margin guidance. (CSG N.V., Reuters)
Revenue visibility is unusually strong and is becoming more diversified. The order backlog reached €17 billion, with a further €29 billion under negotiation, while Land Systems became the largest backlog contributor rather than ammunition carrying the whole growth story. (CSG N.V., CSG N.V.)
CSG has improved its funding flexibility as it expands. Its new €3.062 billion debt structure reduces borrowing costs by 125–150 basis points, extends maturities and increases revolving-credit capacity to support working-capital needs. (CSG N.V.)
Cash conversion is the main near-term risk. Pre-tax operating cash flow was negative €411 million in H1, while net working capital reached 40.1% of trailing revenue; the investment case depends on a large release, mainly in Q4. (CSG N.V., NewsCase)
The balance sheet is stretched by the production ramp-up. Net debt rose to €2.914 billion and leverage was 1.6 times operating EBITDA, above the year-end target of below 1.3 times, leaving limited room if the planned working-capital unwind is delayed. (CSG N.V., CSG N.V.)
The headline €46 billion opportunity is not all contracted revenue: only €17 billion was in the order backlog, while €29 billion was still under negotiation. Converting that pipeline into firm orders and then delivering it will require substantial capacity expansion and flawless execution. (CSG N.V., CSG N.V.)
Data summarised monthly by Lightyear AI. Last updated on 16 Sept 2026.

Funds containing CSG N.V.

AllEURGBPUSD
Funds
Fund name
Fund size
€CSG weighting
VanEck Defense€DFEN
€2.8B0.72%
Vaneck Defense£DFNG
£2.4B0.72%
iShares STOXX Europe 600 Industrial Goods & Services€EXH4
€582M0.11%
Vanguard FTSE Developed Europe£VEUA
£2.6B0.03%
iShares EURO STOXX€SXXEEX
€2.9B0.03%
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Market data provided by CBOE Europe and Deutsche Börse.