Rheinmetall rides high on Ukraine war and European demand
Details
More Products & Services
Products & Services
Military Unmanned Systems Handbook
Shephard Media
The Military Unmanned Systems Handbook (Digital Download) is an international guide to the military UV industry and provides detailed information on air, ground and sea (surface & sub-sea) vehicles as well as subsystems. What's included: Unencrypted 390+ page PDF of equipment and supplier information Market summary
Shephard Plus Update
Shephard Media
Shephard Plus is updating in June 2018 with rich new capabilities, and is now one of the most cost-effective and valuable aerospace and defence market intell...
Defence Insight
Shephard Media
Some of the things people like you use Defence Insight for:
- Total addressable market sizing ($)
- Competitor analysis
- Cost analysis
- Market forecasting
- Growth identification
- Increasing closing ratio
- Increasing closing order value
- Estimating product potential
- Calculating sales forecasting
- Supply and demand analysis
Description
Germany's Rheinmetall is booming on earnings driven by the war in Ukraine, particularly the massive demand for ammunition, and European countries looking to strengthen their defensive posture, particularly those closest to Russia.
The company reported that for the first quarter of 2024, consolidated sales climbed by €218 million or 16% to €1.581 billion compared to the same period in 2023 of €1.363 billion, which, when adjusted for currency effects, is up 17%.
Operating earnings amounted to €134 million as of 31 March, up on the previous year's figure of €83 million.
According to the company “the improvement in operating earnings relates in particular to the strong contribution by Rheinmetall Expal Munitions, which was acquired in the previous year.”
The Weapon and Ammunition division generated sales of €362 million in the first quarter of 2024, outperforming the figure for the previous year by €149 million or 70% and key projects included artillery orders for Germany and Ukraine.
The backlog for the division more than doubled, rising by €6.394 billion or around 123% to €11.6 billion as of 31 March. The main factor driving this was the signing of two multi-year multi-billion Euro ammunition framework agreements in the second half of 2023 for the German government and the Ukrainian armed forces.
Sales in in the company's vehicle systems business were up by €31 million or around 7% year-on-year at €493 million for the first three months of 2024 with the company noting “the increase in sales relates to projects for the delivery of tactical vehicles in particular".
The company reported that for the first quarter of 2024, consolidated sales climbed by €218 million or 16% to €1.581 billion compared to the same period in 2023 of €1.363 billion, which, when adjusted for currency effects, is up 17%.
Operating earnings amounted to €134 million as of 31 March, up on the previous year's figure of €83 million.
According to the company “the improvement in operating earnings relates in particular to the strong contribution by Rheinmetall Expal Munitions, which was acquired in the previous year.”
The Weapon and Ammunition division generated sales of €362 million in the first quarter of 2024, outperforming the figure for the previous year by €149 million or 70% and key projects included artillery orders for Germany and Ukraine.
The backlog for the division more than doubled, rising by €6.394 billion or around 123% to €11.6 billion as of 31 March. The main factor driving this was the signing of two multi-year multi-billion Euro ammunition framework agreements in the second half of 2023 for the German government and the Ukrainian armed forces.
Sales in in the company's vehicle systems business were up by €31 million or around 7% year-on-year at €493 million for the first three months of 2024 with the company noting “the increase in sales relates to projects for the delivery of tactical vehicles in particular".
Share
Recent Chats
Share via email
Future: handle WhatsApp here
Future: handle LinkedIn here
Future: handle Twitter here
SUBMENU HERE
Share via Chat
Copy Link