Earnings and sales rise at German arms manufacturer Rheinmetall

Source: Deutsche Presse-Agentur (dpa), Defence Industry Europe

Sales and earnings in the first nine months of 2023 at German arms manufacturer Rheinmetall grew compared with the same period of last year.

 

The firm has seen its order book grow against the backdrop of the war in Ukraine, which began in February last year.

Rheinmetall reported on Thursday that its nine-month earnings per share from continuing operations increased to EUR 4.73 ($5.06) from last year’s EUR 3.93.

 

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Consolidated operating result amounted EUR 387 million, up 17% on previous year’s EUR 331 million.

In the first nine months, consolidated sales increased 13% to EUR 4.62 billion from previous year’s EUR 4.08 billion.

Adjusted for currency effects, sales were more than 14% higher than in the previous year.

Rheinmetall backlog climbed around 42% to EUR 36.5 billion, from EUR 25.7 billion last year.

 

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The company confirmed its current guidance for fiscal 2023 sales growth and operating margin, in light of the current market situation and the consistently positive order situation.

The company continues to expect consolidated sales between EUR 7.4 billion and EUR 7.6 billion and an operating margin of around 12%.

 

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