Primoco UAV SE, a leading Czech military drone producer, has announced record half-year profits driven by rising global demand and increased defense expenditures. The Prague-based company has capitalized on heightened security spending fueled by Russia’s invasion of Ukraine, conflicts in the Middle East, and growing geopolitical tensions worldwide.
Primoco, which joined Prague’s main stock exchange earlier this year, specializes in mid-sized unmanned aerial vehicles (UAVs) used primarily for combat reconnaissance and border monitoring.
Net income for January to June surged by 81 percent year-over-year to 121 million CZK (€4.8 million), while EBITDA jumped by 128 percent to 157 million CZK (€6.3 million), the company reported. The company expects to secure orders for 60 UAVs worth roughly 1 billion CZK (€40 million) this year, up from 33 orders last year.
Primoco also reaffirmed its expansion plans, with a 750 million CZK (€30 million) investment in a new facility aimed at more than doubling production capacity by 2027. Plans call for a new production, service, and training center in Pisek, southern Bohemia, where it purchased 303,000 square meters of land for 125 million CZK (€5 million) from its own resources.
It is currently preparing project documentation and other documents for applying for a building permit, in which it has so far invested 6 million CZK (€240,000).
The new facility will allow production to increase from the current 100 drones a year to 250. Construction should be complete in 2027.
