- Rheinmetall sales up by a third
Rheinmetall, Germany's largest defense conglomerate, continues its steep growth trajectory. In the first half of the year, revenue surged by a third to around €3.8 billion, the company announced in Düsseldorf. The operating result nearly doubled to €404 million. Rheinmetall attributed this increased profitability primarily to the acquisition of Spanish munitions firm Expal. The company is headquartered in Düsseldorf, with its largest plant located in Unterlüß, Lower Saxony.
Rheinmetall's economic outlook is very positive, with order books full. The volume of "nomination" - orders and new framework agreements - increased to €15.4 billion, more than doubling. Civilian customer agreements are also included in this figure. While primarily known for its arms manufacturing, Rheinmetall also has a strong presence as an automotive supplier.
"Our growth has never been this strong," says CEO Armin Papperger. The management expects annual revenue increases of around €2 billion in the coming years. "This remarkable development is only possible because we invested early and have been pursuing a strategic plan since 2014 - the year of the Crimean invasion," says the manager. The company has significantly expanded its capacities, made strategic acquisitions, and built new plants.
Rheinmetall's defense group has significantly contributed to its revenue growth, with the acquisition of Expal boosting profits by a substantial amount. The defense group's expanded capacities and strategic acquisitions, such as Expal, have been instrumental in Rheinmetall's positive economic outlook.
