Defence & Space

ICEYE to deliver space-based ISR capability to the Royal Netherlands Air Force

The Polish-Finnish company ICEYE has entered into cooperation with the Royal Netherlands Air Force to provide sovereign satellite-based reconnaissance, surveillance and…

2025-06-23 | Redakcja | 3 minutes

Mildat to Deliver 20mm Ammunition for Poland’s FA-50 Aircraft

The Polish Armament Agency has published the results of a tender procedure for the supply of a batch of 20×102 mm ammunition…

2025-06-20 | Rafał Muczyński | 3 minutes

SIPRI: Nuclear risks grow as new arms race looms

The Stockholm International Peace Research Institute published a report entitled SIPRI Yearbook 2025, which, among other things, discusses the issue of…

2025-06-16 | Redakcja | 10 minutes

Polish 35 mm SA-35 Self-Propelled Anti-Aircraft Gun with PIT-Radwar

During the recent MSPO trade fair in Kielce, the company PIT-Radwar presented its proposal for a 35 mm self-propelled anti-aircraft gun…

2025-06-13 | Przemysław Gurgurewicz | 13 minutes

Mildat to Deliver 20mm Ammunition for Poland’s FA-50 Aircraft

The Polish Armament Agency has published the results of a tender procedure for the supply of a batch of 20×102 mm ammunition…

2025-06-20 | Rafał Muczyński | 3 minutes

Poland: Bergepanzer 2 ARVs Set for Overhaul

Poland’s Armed Forces 2nd Regional Logistics Base has launched a tender for the repair and potential F3/F4-level maintenance of Bergepanzer 2 armored…

2025-06-18 | Rafał Muczyński | 4 minutes

SKW Cryptographic Security Certificate for Polish Comp@n Radio Set from the WB Group

The WB Group announced that the Comp@n system radio set, developed by its subsidiary Radmor, along with the Cryptographic Document Management…

2025-06-14 | Redakcja | 4 minutes

Advancing multi-domain EW operations: Rohde & Schwarz unveils latest innovations at AOC Europe

Rohde & Schwarz demonstrates the next generation of SIGINT/EW systems, sensor fusion and signal analysis solutions, designed to meet the evolving…

2025-05-12 | Redakcja | 2 minutes

IFRE 2025: Communication Systems From INVISIO at the Megmar Booth

At the 5th International Fire Protection & Rescue Exhibition KIELCE IFRE-EXPO, Megmar presented the offerings of the Danish company INVISIO.…

2025-06-18 | Michał Ihnatów | 3 minutes

IFRE 2025: Maskpol Showcases Protective Suits and Gas Masks

Maskpol, a company within the Polish Armaments Group (PGZ), presented part of its product range—protective suits and gas masks—at the 5th…

2025-06-17 | Michał Ihnatów | 2 minutes

Paris Air Show 2025: Saab GlobalEye

At the 55th International Paris Air and Space Show, one of the most noteworthy elements of the static display was…

2025-06-19 | Radosław Niesobski | 3 minutes

Paris Air Show 2025: Bayraktar TB3 Debuts

The 55th edition of the International Paris Air and Space Show, held in the French capital, provided an opportunity for…

2025-06-19 | Radosław Niesobski | 3 minutes

Poland: Buffer zone on the border with Belarus extended for another 90 days

The Minister of the Interior and Administration has signed a regulation introducing a temporary ban on presence in a designated area within the…

2025-06-11 | Redakcja | 4 minutes

Galvion awarded FBI contract for their Hellbender FE helmet

Galvion announces the successful award of a Federal Bureau of Investigation (FBI) contract for their Galvion Hellbender Federal Edition (FE) helmet…

2025-06-09 | Redakcja | 3 minutes

ICEYE to deliver space-based ISR capability to the Royal Netherlands Air Force

The Polish-Finnish company ICEYE has entered into cooperation with the Royal Netherlands Air Force to provide sovereign satellite-based reconnaissance, surveillance and…

2025-06-23 | Redakcja | 3 minutes

Mildat to Deliver 20mm Ammunition for Poland’s FA-50 Aircraft

The Polish Armament Agency has published the results of a tender procedure for the supply of a batch of 20×102 mm ammunition…

2025-06-20 | Rafał Muczyński | 3 minutes

SIPRI: Nuclear risks grow as new arms race looms

The Stockholm International Peace Research Institute published a report entitled SIPRI Yearbook 2025, which, among other things, discusses the issue of…

2025-06-16 | Redakcja | 10 minutes

Visit of Polish President Andrzej Duda to the Singaporean company ST Engineering

One of the stops during the visit of Polish President Andrzej Duda to Singapore was the local company ST Engineering, which…

2025-06-14 | Rafał Muczyński | 5 minutes

ICEYE to deliver space-based ISR capability to the Royal Netherlands Air Force

The Polish-Finnish company ICEYE has entered into cooperation with the Royal Netherlands Air Force to provide sovereign satellite-based reconnaissance, surveillance and…

2025-06-23 | Redakcja | 3 minutes

ICEYE signs agreement to deliver SAR satellite capabilities to the Portuguese Air Force

The Polish-Finnish company ICEYE and the Portuguese Air Force (Força Aérea Portuguesa, FAP) announced the signing of an order for…

2025-06-13 | Redakcja | 4 minutes
Shooting

Paris Air Show 2025: Bayraktar TB3 Debuts

The 55th edition of the International Paris Air and Space Show, held in the French capital, provided an opportunity for…

2025-06-19 | Radosław Niesobski | 3 minutes

IFRE 2025: Maskpol Showcases Protective Suits and Gas Masks

Maskpol, a company within the Polish Armaments Group (PGZ), presented part of its product range—protective suits and gas masks—at the 5th…

2025-06-17 | Michał Ihnatów | 2 minutes

Streamlight TLR-7 HL-X – a Bayonet of Light for Your Weapon

The devil’s not so scary once you shine a light on him—and he’s certainly easier to neutralize in the spotlight. A weapon-mounted flashlight…

2025-06-09 | Anna Mielczarek | 6 minutes

Mactronic M-Fire Guardian – A New Flashlight for Professionals

Mactronic is introducing a new angle flashlight, the M-Fire Guardian. According to the manufacturer, it is the first angle flashlight with red…

2025-06-04 | Michał Ihnatów | 6 minutes

IFRE 2025: Maskpol Showcases Protective Suits and Gas Masks

Maskpol, a company within the Polish Armaments Group (PGZ), presented part of its product range—protective suits and gas masks—at the 5th…

2025-06-17 | Michał Ihnatów | 2 minutes

UF PRO Introduces Waist/Flex Belts to Its Product Line

UF PRO, a Slovenian manufacturer of professional apparel and part of the Mehler Systems group, is adding a new accessory to its lineup…

2025-06-06 | Michał Ihnatów | 2 minutes

Enforce Tac 2025 starts on February 24th

Enforce Tac is an international trade fair aimed at law enforcement officers, experts from government agencies, and representatives of the…

2025-01-30 | Michał Ihnatów | 4 minutes

POLSECURE: Holsters HPE Poland offer for uniformed services

At the 3rd International Police and Public Security Fair POLSECURE 2024 in Kielce, Holsters HPE Poland presented its offer for…

2024-05-01 | Redakcja | 2 minutes

MSBS GROT BULLPUP conversion now available

Fabryka Broni “Łucznik” Radom is introducing long-awaited conversion kits for the MSBS GROT S16 FB-M1 and S10 FB-M1 semi-automatic rifles,…

2025-06-02 | Michał Ihnatów | 3 minutes

IDET 2025: Grand Power Showcases M4M1 Carbines for the Slovak Armed Forces

At the International Defence and Security Technologies Fair IDET 2023 in the Czech Republic, Grand Power — a Slovak firearms manufacturer — showcased…

2025-05-28 | Michał Ihnatów | 4 minutes

Paris Air Show 2025: Bayraktar TB3 Debuts

The 55th edition of the International Paris Air and Space Show, held in the French capital, provided an opportunity for…

2025-06-19 | Radosław Niesobski | 3 minutes

Setting Up a Shooting Belt: An Example with Clawgear

To assist with shooting training and beyond, various belts and gear configurations have been developed and customized to suit individual needs. It’s…

2024-11-28 | Łukasz Kołodziejski | 14 minutes

Over 100% increase in gun permits in Poland in 2024

The Polish Police have released statistical data on firearm permits issued in 2024. An increasing number of Poles now hold…

2025-02-20 | Michał Ihnatów | 5 minutes

Firearms In Poland 2023: Number of permits continues to grow

The National Police Headquarters has released statistics regarding the number of firearm permits and firearms themselves in the hands of…

2024-02-17 | Michał Ihnatów | 5 minutes

5 Best Value ATN Rifle Scopes Under €1500

ATN is a leading manufacturer of daytime optics, smart night vision, and thermal vision technology. The innovative features and ergonomic designs…

2022-11-11 | Redakcja | 8 minutes

MILMAG Visits Grand Power

Grand Power is a Slovak manufacturer of the acknowledged good quality firearms. Take part in our guided tour with English subtitles.

2022-05-23 | Redakcja | 1 minutes

Streamlight TLR-7 HL-X – a Bayonet of Light for Your Weapon

The devil’s not so scary once you shine a light on him—and he’s certainly easier to neutralize in the spotlight. A weapon-mounted flashlight…

2025-06-09 | Anna Mielczarek | 6 minutes

Protective Rescuer Vest – BC Arms Archangel

The Archangel Rescuer Vest is the result of a collaboration between Polish companies Currahee and BC Arms. It was created in…

2025-05-16 | Mariusz Rams | 6 minutes

EOTECH Holographic Sight – History, Technology, Practice

The holographic sight is a device known for nearly 30 years and used by professionals around the world. A favorite sight of many…

2024-09-02 | Michał Gaweł | 12 minutes

Another Year of Profits for PGZ Stocznia Wojenna

PGZ Stocznia Wojenna closed the year 2023 with a net profit of over PLN 36.4 million. This marks the second consecutive positive financial result since its acquisition by the Polish Armaments Group (PGZ) from the trustee of the bankrupt Naval Shipyard.

On Monday, June 10, 2024, PGZ Stocznia Wojenna, a subsidiary of the Polish Armaments Group (PGZ), announced that it closed the year 2023 with a net profit of over PLN 36.4 million. This marks the second consecutive positive financial result for the company since its acquisition by PGZ from the trustee of the bankrupt Naval Shipyard. The consistently implemented organizational changes and modernization of the Shipyard over the past few years are yielding tangible financial results.

Photos and images: PGZ Stocznia Wojenna

PGZ SW significantly improved its results compared to the previous year. The shipyard achieved an operating profit of PLN 31 million (compared to 14.6 million in 2022) through a substantial increase in production efficiency. This is the result of implemented changes in technology and work organization. Over the past three years, the company has invested significant funds in the automation and robotization of production. Numerous organizational improvements have also been introduced, adopting modern enterprise resource management methods. As a result of these actions, the company achieved a high EBITDA margin of 18% (6 percentage points higher than the previous year).

If I had to name just one factor that contributed most to the profit in 2023, it would be consistency: consistency in the implementation of the Company’s adopted development strategy, which we have been implementing with determination for the third year, said Paweł Lulewicz, President of the Management Board of PGZ SW. Although this was the first year of physical implementation of huge investments in infrastructure and machinery and equipment, it was preceded by two years of meticulous preparations and changes in the organization of work and raising the competence of employees and the whole shipyard. And it is the results of these activities that have translated into profit, both on sales and net, added President Lulewicz.

PGZ Stocznia Wojenna is the main contractor for the Miecznik program—the construction of three multi-purpose frigates for the Polish Navy. These ships will significantly enhance the capabilities of the Polish Navy and enable the execution of a wide range of maritime tasks, including securing shipping lanes and critical infrastructure. The vessels will increase the combat potential of the Polish Armed Forces and serve as a substantial contribution by the Republic of Poland within the North Atlantic Alliance, for example, by performing tasks as part of NATO’s Standing Naval Forces.

The implementation of the project in Poland will generate approximately 2,000 jobs in shipyards, defense companies, and other industrial sectors directly involved in the project. The acquired competencies will enable the development of new capabilities and assist in work on other projects for the Polish Navy.

2020 2021 2022 2023
Income 166 673 206,16 121 265 242,95 177 152 429,45 215 392 691,31
Sales profit -14 389 309,04 -33 159 772,71 8 820 417,26 27 445 039,36
Operating profit -26 363 255,81 -257 289,02 14 632 376,74 31 260 079,24
Gross profit -29 207 848,74 -1 298 763,39 2 536 821,81 39 612 466,58
Net profit -13 562 913,00 -20 396 591,39 21 149 096,15 36 372 061,18
EBIDTA -17 221 989,22 8 859 507,08 22 073 060,35 38 812 888,52
EBIDTA margin -10% 7% 12% 18%

 

Press release

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