Armaments: Rheinmetall does much more business, but lowers forecast
Whether howitzers or tanks, whether ships or satellites - Rheinmetall's product range is large. Business is actually going well - but expectations were probably a bit exaggerated.
Rheinmetall, Germany's largest arms manufacturer, has reported a 38% increase in revenue to 8.4 billion euros for the first nine months of the year. The company's operating profit rose 69% to 1.3 billion euros. However, Rheinmetall has lowered its annual revenue target to 13.2 billion euros, citing likely delays in the Boxer armored vehicle project and artillery ammunition production.
The company's stock price fell by up to 16% following the announcement. Despite this, CEO Armin Papperger expressed optimism about the company's growth prospects.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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