Consolidated financial statements 2023

Glock with significantly lower sales in the previous year

Of the annual turnover of 615 million euros, 15 million euros were generated in Austria, with the remainder coming from foreign business. In the picture: a Glock 17 with ammunition

(Bild: APA/GEORG HOCHMUTH)

The Austrian pistol manufacturer Glock generated a net profit of 431 million euros in 2023, compared to 515.4 million euros in the previous year. Personnel expenses for the more than 2,500 employees remained almost the same at 178.2 million euros, according to the 2023 consolidated financial statements.

Turnover amounted to 615.7 million euros after 829.5 million euros in 2022. Earnings after taxes amounted to 39.7 million euros (2022: 146.2 million euros), while the net profit for the year was 39.7 million euros (2022: 146.2 million euros).

The balance sheet of Glock GmbH, based in Ferlach, Carinthia, also includes the foreign companies around the world, such as in the USA, where Glock is traditionally the leader in sales figures for pistols to private households.

(Bild: AFP/2024 Getty Images)

However, here, as in the military sector, the Austrians faced significant competition from the German-American manufacturer Sig Sauer. Its pistol was only recently introduced as the standard sidearm of the US armed forces and the Australian and Canadian armies, leaving competitor Glock empty-handed.

15 million euros generated in Austria
Of the 615 million euros in annual turnover, 15 million euros were generated in Austria, with the remainder coming from foreign business. Kathrin Glock is Chairwoman of the Supervisory Board of Glock GmbH.

Her husband Gaston Glock, developer of the world-famous Glock pistol and company founder as well as decades-long board member, passed away at the end of the previous year at the age of 94.