Czech defense billionaire Michal Strnad, head of CSG NV, publicly refuted claims made by short-seller Hunterbrook Media following a severe share price drop after the firm's initial public offering. Strnad dismissed questions regarding CSG's production capacity as “total nonsense” and maintained that the IPO was a sound decision despite current market volatility. The company has benefited immensely from heightened defense spending, with revenue increasing more than sixfold since Russia’s 2022 invasion of Ukraine.

Strnad, whose fortune is estimated at about $20 billion, expressed particular frustration over allegations linking CSG to Russia prior to the war, emphasizing that the company is a major long-term supplier to Ukraine, dating back to 2014. He cited the US Army contract to build the Future Artillery Complex in Iowa as proof of CSG's clean standing, noting that deliveries to Ukraine currently account for 27% of CSG’s revenue.

CSG shares experienced a decline parallel to rivals like Rheinmetall AG, which Strnad attributes partly to changing sentiment about conflict types. The 33-year-old plans to expand the business globally, looking at acquisitions in both Europe and the US. He confirmed he has no immediate plans to sell more shares, though he remains open to using equity for strategic purchases that offer vertical integration or market control.