Following the outbreak of the Ukraine war, Slovakia’s top 17 armament manufacturers have seen a dramatic increase in profitability, with earnings increasing fourfold over the past year. These firms registered a 51% growth in sales, with revenues rocketing from €262 million to €396 million. The profits rose even more sharply, surging from €11 million to an all-time high of €49 million. The escalated conflict in Ukraine has been a major factor in this surge in demand. Particularly successful were firms such as the ammunition factory in Nováky and the state-owned Konštrukta-Defence armoury, both of which have benefited from Ukraine’s increased need for military equipment. Their efforts to increase production two or threefold have been praised by the EU Internal Market Commissioner Thierry Breton, who commended the quality and competitiveness of the Slovak defense sector.
Source: euractiv.com
