Czech CSG bids for KNDS stake as munitions demand softens (ad-hoc-news.de)

• CSG bids for German half of KNDS; political hurdles expected.
• Ukraine shell initiative contracts fall to 1 million in 2026.
• CSG Q1: revenue +13.8%, margin 24.1%, order backlog €17bn.

"Czech group CSG has made a cash offer for the German half of KNDS, maker of the Leopard 2 tank, while its core ammunition supply chain faces reduced orders from Ukraine. The Czech-led artillery initiative secured contracts for only 1 million shells in 2026, down from 1.8 million in 2025. CSG posted strong Q1 results with revenue up 13.8% to €1.544bn and an operating margin of 24.1%. Its stock trades 44% below its 52-week high."