The Rifle Business of Minister Kalinak generated another loss
Liwa Arms Slovakia’s sales are growing.
It might seem that the production of weapons will be a business in these turbulent times that cannot be converted. The project behind the Minister of Defense Robert Kalinak (Direction) shows that this is not always the case.
Kaliňák in 2019, when he took a break from politics, started a business at Liwa Arms Slovakia, which produces rifles. She cannot be satisfied with her recently published financial results for the past year.
Although Liwa Arms Slovakia’s sales have risen, the company also reported a high loss again.
Arabian partner
Kaliňák’s new business informed yet in 2019 SME daily. Although his newly established eseročka had an English word « arms » in the name, which means weapons in translation, Kalinak initially refused to embark on the armory industry.
« It’s just a taken name from a partner. Rather, he will be engaged in engineering, » he told SME. He said more he didn’t want to, « I don’t give any other statements, I’m a civilian person. These are already companies that have their rules, so we don’t play that you can write anything about me. »
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Later, however Kaliňák admitted to the newspaper Nový Čas that Liwa Arms Slovakia can also produce weapons: « You can also devote yourself to engineering production, which is directed towards sports or hunting things, which is not a military material. »
He first owned the company himself, but after a few weeks there was another co -owner, Liwa Arms Owned by Altowaissa Inbvestments, which, according to the news portal, was Hamad Bin Jassim Al Darwish Fakhroo.
It was the head of the financial company Al Hail Holding based in Abu Dhabi. It comes from a prominent Arab family of the Fakhro family, which is close to the ruling families in Qatar, Bahrain, Saudi Arabia and the United Arab Emirates.
In a loss of establishment
The start of Kalinak’s company was influenced by Covidova Pandemia. Its product, a hunting rifle, were to be introduced for the first time at the Nuremberg fair in March 2020. However, the event was moved for the pandemic.
Between 2020 and 2022, Liwa Arms Slovakia had relatively low sales of tens of thousands of euros. In 2023 she managed to triple them to 321 thousand euros. And last year they rose again, 120 percent to almost 707,000 euros.
However, it is worse looking at the economic results. Kaliňák’s company reported a loss of almost 699 thousand euros over the past year. It has been in red numbers since its founding, when it reported a cumulative loss of almost EUR 2.4 million for the period 2019 to 2024.
According to the financial statements, Liwa Arms Slovakia employed six people at the end of last year, and their number did not change year -on -year. For the sake of completeness, let us add that the company is located in Dubnica nad Váhom in the building of the semi -State Zbrojovka ZVS Holding.
