Gevorkyan reports strong start to 2025 with major defence and automotive contract wins
Gevorkyan a.s., headquartered in Vlkanová, Slovakia, has reported a successful start to 2025, with Q1 revenues of €20.88 million and statutory EBITDA of €8.35 million, resulting in an EBITDA margin of almost 40%. This represents an increase in revenues of 11.2% and an increase in EBITDA of 14.35% compared to the same period of the previous year.
The company reported an operating EBIT of €4.21 million, an increase of 7.15% compared to the same period last year. The profit after tax (EAT) was reported at €2.98 million, representing a 26.32% increase compared to the same period last year.
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“Our strong performance in an uncertain economic environment underlines our resilience and ability to use global uncertainties to our advantage,” stated Artur Gevorkyan, Chairman of the Board “We are optimistic about our plans and will combine organic growth with selective and value enhancing acquisitions.”
In the announcement, the company reported that it has won nine new long-term projects in the arms industry for the European and American markets. Following the success at a recent international trade fair, an agreement was signed to develop components for sporting arms in the USA.
At the same time, mass production of components for a $30 million project that the company won in a 2024 tender, has now started.
The first phase of a project for a European manufacturer of optoelectronic devices using night vision, thermal imaging, and laser technology has been successfully completed. In the next phases, development and mass production for new applications in armaments and aerospace will continue.
In the automotive segment, new projects for autonomous robotic taxis have been acquired in the US and Europe. Additionally, after several years of technical and commercial negotiations, the company won a project for the petrol station and oil industry in the USA.
The company reports it has also received orders from European-based customers, notably one to supply a European plant wholly owned by a renowned Asian brand. Following the rapid and successful completion of development based on specific customer requirements, series production is scheduled to ramp up in May 2025.
As part of investments in new premises, automation and robotisation, Gevorkyan reported that a warehouse and production area were expanded by approximately 1000 m2. In Q1 2025, a project to robotise two calibration presses was also completed, helping further reduce operational costs.
