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Sentence 3 · Hunterbrook Media · 4 May 2026

CSG: Why the Largest Military IPO in European History Is Combusting

What the outlet published · Sentence 3

The combined revenue of all four ammunition-producing subsidiaries we identified totaled no more than an estimated 524 million euros in 2024 — roughly a fifth of the 2.5 billion euros CSG reported in medium- and large-caliber ammunition sales that year.

What the documents say

«In 2025, CSG's own-production capacity totalled approximately 630,000 rounds, in addition to recommissioning and third-party partnerships.» «The €58 billion figure represents the potential value of a seven-year framework agreement, not a committed order book.» — CSG, comunicado del 5 de mayo de 2026.

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