Slump in sales and profits at Glock

The Austrian pistol manufacturer Glock has in the year 2023 a balance sheet profit of 431 million euros retracted, after 515.4 million euros the year before. Sales were at 615.7 after 829.5 million euros 2022. Earnings after taxes were 39.7 million euros (2022: 146.2 million euros).

Among other things, the decline was caused by: lost major orders of military personnel in the USA, Canada and Australia. The German-American manufacturer was awarded the contract Sig Sauer whose pistol was chosen as the standard weapon for the armed forces.

However, Glock is still the leader in the USA when it comes to pistols for private households. Foreign business also makes up the majority of the balance sheet of the company based in Ferlach in Carinthia. Of the 615 million euros in annual sales, only 15 Mio. generated in Austria.

The personnel costs for the good 2,500 employees remained according to the consolidated financial statements for 2023 178.2 million euros almost the same.

Founder died last year

Chairwoman of the supervisory board of Glock GmbH Kathrin Glock. Her husband Gaston Glockdeveloper of the world-famous Glock pistol and company founder as well as a board member for decades, was aged at the end of last year 94 years deceased.