Rheinmetall records rising order intake.
(Photo: dpa)
Dusseldorf The armaments group and automotive supplier Rheinmetall made record profits in the first half of the year. With an increase in sales of 3.5 percent to 2.7 billion euros, the operating profit increased by eight percent to 206 million euros, as the Düsseldorf-based group announced on Friday. Net earnings soared to 134 (previous year: 31) million euros.
“Rheinmetall remains on course for growth,” emphasized company boss Armin Papperger. “We are registering increasing incoming orders – also in our civil business.” This makes him confident for the further course.
“And in view of the current security policy situation, in the coming months and years we will contribute to strengthening the defense capabilities of many countries with our products.” In February, Chancellor Olaf Scholz had a massive expansion of the Bundeswehr with additional Spending of 100 billion euros announced.
Rheinmetall expects sales growth of 15 percent
Because of the weakening car supply, Rheinmetall boss Papperger had already restricted his sales target and now expects an increase of around 15 percent, which is at the lower end of the forecast range of 15 to 20 percent.
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He kept the profit forecast and is thus still aiming for an improvement in the operating result and an operating profit margin of over eleven percent. The shortage of semiconductors that broke out with the corona pandemic in 2020 is burdening the automotive industry worldwide. Papperger does not expect the situation to ease until next year at the earliest.
In 2021, Rheinmetall had increased its operating result by half to 608 million euros with sales of 5.6 billion euros. The armaments business took the lion’s share.
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