The Promet Group has lost confidence in the senior management of Tatra Trucks.

In Ostrava, July 17, 2025 – The Promet Group engineering group, which is a co-owner of Tatra Trucks through its subsidiary Promet Tools, has lost confidence in its top management. Therefore, at Friday's general meeting, it will reject the investment plan proposed and presented in the media by the management. In addition, it will propose to the other key shareholder, the CSG group, a joint discussion on the further development of the company and the specific steps to be taken.

"As co-owners of Tatra since 2013, our family has been actively involved in its rescue and recent successful growth. We know Tatra's production and its employees like few others. We have always stood behind them and the development of the company. We have supported and co-financed it. We want to continue to do so because we recognize the necessity of investment. However, we are concerned about the internal situation at Tatra, which increasingly differs from the official media image of the company. The events of recent weeks have led us to decide to strongly oppose the actions of its current top management, which has lost our trust. We are concerned that the impact of its actions could jeopardize Tatra's future and reputation," comments Denisa Materová, CEO of Promet Group.

Main reasons for the loss of trust in the management of Tatra Trucks

According to a recently published document, the board of directors of Tatra Trucks significantly exceeded its powers when it decided, without the approval of the supervisory board and the general meeting, to change the supply chain for Tatra military vehicles by incorporating an intermediary, Tatra Defence Systems, which is not part of the Tatra group. "In our opinion, according to the company's articles of association, the power to make and sign such strategic decisions belongs solely to the highest body of the company – the general meeting," explains Denisa Materová.

The case is now attracting media attention in connection with billion-dollar government military contracts and is spilling over into the highest political circles in the Czech Republic and Slovakia. Management will have to explain how it was possible to take such a step and also comment on whether Tatra Trucks or the end customer suffered financial damage as a result. And whether they acted with due diligence.

Furthermore, according to Promet Group management, Tatra Trucks management is providing misleading information about the company's condition to shareholders and the public. "As owners who are very close to the company and regularly visit the Tatra premises, we see a number of persistent production and logistics problems. Constantly recurring problems with production planning and missing parts for assembly cause downtime and inefficiency. This, of course, has an impact on the final production and financial results. Tatra has a long-term order book, so production planning should not be such a problem," adds Denisa Materová.

Tatra's financial results for last year, which will be discussed at the general meeting, also raise questions. This is both in terms of their amount in the context of production capacity, including military orders, and in terms of their structure.

A special chapter is the unbalanced behavior of Tatra's management towards individual shareholders. Joint reporting to shareholders has been canceled, and communication with selected representatives of the Promet Group is limited. This limits their access to information and their ability to influence the company, as was customary until the summer of 2024.

Tatra management's record investment plan presented to the media without discussion with owners

Promet Group management has always respected the principle of exclusively internal discussions with management and between owners regarding production processes, personnel issues, results, and investments. However, it has now had to respond publicly. "The final impetus for our public statement was, in addition to the aforementioned case involving a change in the supply chain, the media coverage of Tatra's historically record-breaking investment plan, which took place without prior presentation, discussion, or approval by the company's owners. This is an unprecedented step in a situation where the management, led by CEO Kristijan Fiket, is asking the owners for CZK 2.7 billion to increase the share capital," says Denisa Materová with surprise, adding. "The documents provided to us arrived only one day before the investment plan was published in the media. Moreover, they do not contain the comprehensive information that every responsible owner needs to know in order to approve such a significant investment." For example, the materials lack an analysis of the market environment and individual market segments, a development strategy and concept, a detailed profit and loss statement, a balance sheet, and cash flow.

Although the management of the Promet Group is aware of the importance of the company's investment development plan, for the above reasons, it refuses to entrust it to the current management of Tatra. Therefore, the investment proposal, which is also associated with a significant increase in share capital, will be blocked at the general meeting held on July 18. "We are acting as a responsible owner. In order for Tatra to invest and grow effectively, its management must first fix what is not working, be transparent about results, communicate with owners, and prepare a professionally crafted investment plan. Since this is not the case at present, we do not intend to entrust the current management with

Proposal for joint shareholder negotiations on the further development of Tatra

Denisa Materová will use her working relationship with Michal Strnad, owner of the CSG Group, Tatra Trucks' second largest shareholder, to propose a joint approach to negotiations on Tatra's future and investments. "The situation is alarming for everyone, and it is in the interest of both parties to sit down at the table and find agreement on the next steps regarding operational matters and future investments in Tatra's development. We are prepared to come to the meeting with a constructive proposal for further steps. The Mater and Strnad families have long-term positive experience with the joint successful management of Tatra, and it is now up to us to continue this," says Denisa Materová. "We are aware of our great responsibility towards Tatra's employees and the region from which it originates and with which it has been associated for more than a hundred years."

The challenge is all the more important because Tatra Trucks are a key component of the defense capabilities of not only the Czech Republic. It is therefore the duty of both qualified owners to approach the problem with the utmost responsibility.

For more information, please contact:
Pavel Barvík
Marketing and Communications Director, Promet Group
Tel. +420 602 266 815
e-mail: pavel.barvik@prometgroup.eu