The Düsseldorf-based Rheinmetall AG also closes the first half of the 2023 fiscal year with sales growth at Group level. The positive business development is primarily driven by business with the armed forces in Germany and partner countries in the EU and NATO.
Characterized by the dynamic market situation and strong demand, the Group recorded double-digit sales growth in the military goods business. In contrast, the Group’s civilian business is lagging behind, with business development slowing down in some areas. Rheinmetall now generates more than 70 percent of its business in the military sector. Armin Papperger, CEO of Rheinmetall AG, on the company’s development: “We remain on track to achieve our ambitious targets for sustainable profitable growth in the course of 2023. In view of the changed security situation, governments have made far-reaching decisions on military procurement. Now it is time for implementation, which is reflected in our first major incoming orders. We recently signed contracts with an order volume of more than seven billion euros in a single week – that’s a new record for us.” https://militaeraktuell.at/wir-muessen-faehigkeitsluecken-schliessen/ The Rheinmetall CEO is further quoted in a recent press release: “Thanks to the recently completed acquisition of the Spanish ammunition manufacturer Expal Systems we are sustainably securing our core business and significantly increasing capacities. At the same time, we have now opened a new historic chapter for Rheinmetall, as we will soon also be supplying fuselage components for the world’s most advanced fighter jet, the F-35A..” “In a changing world, we continue to stand by our responsibility, especially in view of the war in Ukraine. We are grateful to be able to provide the country with effective assistance in the defense fight with our products – from air defence to battle tanks and infantry fighting vehicles and the associated ammunition, from military trucks and sensors to mobile field hospitals,” adds Armin Papperger. “As promised, we will also soon be delivering urgently needed ammunition for the Gepard air defense tanks to Ukraine.”
“WE recently signed contracts with an order volume of more than seven billion euros in a single week – that’s a new record for us.
”
Rheinmetall-Chef Armin Papperger
In the first half of 2023, Group sales rose by 187 million euros or seven percent year-on-year to 2.861 billion euros (previous year: 2.674 billion euros). Adjusted for currency effects, turnover was almost eight percent higher than in the previous year. The operating result amounted to EUR 191 million and was therefore EUR 15 million or 7% below the previous year’s figure of EUR 206 million.
Here for further reports on Rheinmetall.
