Austrian pistol manufacturer Glock recorded a net profit of 431 million euros in 2023, after 515.4 million euros the year before. Personnel costs for the 2,500 employees remained virtually the same at 178.2 million euros, as shown in the 2023 consolidated annual accounts.
Turnover amounted to 615.7 million euros after 829.5 million euros in 2022. The result after tax amounted to 39.7 million euros (2022: 146.2 million euros), the annual surplus was 39.7 million euros (2022: 146. 2 million euros).
The balance sheet of Glock GmbH, based in Ferlach, Carinthia, also includes foreign companies around the world, such as in the US, where Glock has traditionally been the leader in handgun sales to private households.
But both here and in the military sector, the Austrians faced significant competition from the German-American manufacturer Sig Sauer. The pistol was only recently introduced as the standard weapon of the US Armed Forces and the Australian and Canadian armies came away empty-handed;
15 million euros generated in Austria
Of the 615 million euros in annual turnover, 15 million euros was generated in Austria, the rest was attributable to foreign activities. Kathrin Glock is Chairman of the Supervisory Board of Glock GmbH.
Her husband Gaston Glock, developer of the world-famous Glock pistol and founder of the company and board member for decades, died late last year at the age of 94.
Source: Krone
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