Primoco UAV SE, a Czech manufacturer of unmanned aerial vehicles, announced its financial results for 2024. The company recorded consolidated revenues of CZK471 million, an EBITDA profit of CZK147 million, and maintained a strong operating margin. Primoco continued to operate debt-free, generating a free cash flow of CZK231 million.
“The year 2024 marked a period of intense work. With our successful entry into the main market of the Prague Stock Exchange, we symbolically completed our journey from a Czech startup to a company delivering on its global ambitions through a truly unique product,” said Primoco CEO Ladislav Semetkovský.
Primoco’s flagship aircraft, the Primoco One 150, remains the only medium-heavy unmanned aerial vehicle certified to NATO STANAG standards. STANAG certification enables NATO member states to acquire and deploy the aircraft without the need for additional testing. This certification comes at a critical time as NATO’s European members move to increase their defence budgets significantly. The Primoco One 150 also holds civilian certification for operation over densely populated areas, broadening its commercial applications and deployment in security, fire brigade and other emergency response missions.
Among the company’s key milestones in 2024 was securing its largest-ever contract: a CZK 450 million agreement to deliver 24 Primoco One 150 aircraft. “This contract is significant not only for its size but also because each aircraft delivered opens the door to long-term partnerships, including training, servicing and future fleet expansion based on the positive experience with the One 150,” said Semetkovský.
Although revenues stabilised at nearly half a billion CZK levels last year after rapid growth in the previous period, management views this as characteristic of the industry, remaining optimistic about future prospects and demand. “Interest in unmanned aerial vehicles continues to rise globally, driven by security needs and civilian applications. Given the complexity of our industry, closing each transaction from initial contact to delivery typically spans years rather than months. However, the number of our active negotiations at various stages of development multiplied in 2024,” said Semetkovský.
Primoco made significant investments during the year to support anticipated demand. The company acquired land in the industrial zone of Písek and completed project documentation for a new production, service, control and training center, set to commence construction in 2026 following the building permit approval. Located near Primoco’s airport, the facility will feature advanced robotics and automation and ultimately triple Primoco’s production capacity to 300 aircraft annually.
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