Weapons Pistol manufacturer Glock with lower sales and profits

Business with its pistols was brilliant for the Austrian firearms company Glock for many years. Now the company is having to accept poorer sales figures. The competition is fierce.

The Austrian pistol manufacturer Glock achieved significantly lower sales and profits last year. Net profit for the year amounted to 39.7 million euros (2022: 146.2 million euros), while turnover fell from 829.5 million euros to 615.7 million euros, the APA news agency quotes from the 2023 consolidated financial statements.

Business was particularly poor in the USA. Glock is feeling the effects of competition there both in the sale of pistols to private households and in orders for the military sector, the APA continues.

The Glock 17 revolutionized the firearms market in the 1980s with its high plastic content. Glock weapons are used by security forces in Germany, Austria and the USA. Publicity-shy company founder Gaston Glock died in 2023 at the age of 94.

SDA