Armaments industry - Rheinmetall with profit increase in the second quarter
Higher expenditures of western states and an acquisition have boosted defense and automotive supplier Rheinmetall's earnings in the second quarter. With a revenue increase of nearly 50% to around 2.2 billion Euro, the operating result more than doubled compared to the previous year, according to the Dax-listed company based on preliminary figures.
The annual targets were confirmed by the Duesseldorf-based company. The positive business development is mainly due to advanced sales in the Weapons and Ammunition division and a higher contribution from Rheinmetall Expal Munitions. Rheinmetall took over the Spanish munitions manufacturer on August 1, 2021.
Moreover, Rheinmetall spoke of strong order intake in the second quarter due to the implementation of procurement projects from the special budget of the German armed forces.
Rheinmetall will present the complete quarterly figures on August 8.
- The acquisition of the Spanish munitions manufacturer significantly contributed to Rheinmetall's growth, which is based in North Rhine-Westphalia, specifically in Düsseldorf.
- The quarterly figures of Armament company Rheinmetall, revealed soon on August 8, are expected to show a significant leap in winnings, largely due to increased expenditures from western states and their Quarterly figures.
- The armament industry in Germany has seen a positive shift, with Rheinmetall leading the way, as shown by the substantial increase in its earnings, contributing significantly to the overall growth of the Armament Industry.
- The takeover of the Spanish munitions manufacturer by Rheinmetall on August 1, 2021, has played a crucial role in enhancing the company's position in the Weapons and Ammunition division, leading to a notable increase in its revenue and operating result.
