rheinmetall
German arms maker Rheinmetall has seen continued growth in the first quarter thanks to a boom in demand in the wake of the Russian invasion of Ukraine. Compared to the same period last year, sales rose by 16% to €1.58 billion ($1.7 billion), the company, which is listed on Germany's Germany's DAX index of blue-chip stocks, said on Tuesday. The operating result at Rheinmetall surged by 60% to €134 million, though analysts had been expecting even better results. The operating margin, meaning the ratio between the operating result and sales, stood at 8.5% at the start of the year. Rheinmetall con...
DPA International
The major German arms manufacturer, Rheinmetall, said the German armed forces placed an order worth as much as €400 million ($427 million) for a framework contract to supply up to 191,000 "intercom with hearing protection function" sets. The contract, announced on Wednesday, has a 7-year term and is part of a key project for tactical communications which is of cross-sectional importance for the entire force. As per the conditions by the Budget Committee of the German Bundestag, 30,000 sets including connection cables with delivery in 2024 have been firmly ordered. A option for the delivery of ...
DPA International
The German arms manufacturer Rheinmetall plans to build a new plant in Lithuania for the production of 155-millimetre artillery shells. The German defence contractor and the government of the Baltic EU and NATO member state signed a memorandum of understanding on Tuesday in the presence of the Lithuanian Prime Minister Ingrida Šimonytė, Economy Minister Aušrinė Armonaitė, and Defence Minister Laurynas Kasčiūnas. Details of the deal were not disclosed. Armonaitė said Rheinmetall's investment will be the largest in the Lithuanian defence sector to date, and one of the largest in the country's hi...
DPA International
The German arms manufacturer Rheinmetall plans to build a new plant in Lithuania for the production of 155-millimetre artillery shells. The German defence contractor and the government of the Baltic EU and NATO member state signed a memorandum of understanding on Tuesday in the presence of the Lithuanian Prime Minister Ingrida Šimonytė, Economy Minister Aušrinė Armonaitė, and Defence Minister Laurynas Kasčiūnas. Details of the deal were not disclosed. Armonaitė said Rheinmetall's investment will be the largest in the Lithuanian defence sector to date, and one of the largest in the country's hi...
DPA International
The major German weapons manufacturer Rheinmetall announced that the Spanish government has placed another order for mortar rounds, this one valued in the higher double-digit-million euro range. Rheinmetall is to supply the Spanish army with a total of 104,000 mortar rounds in 60mm, 81mm and 120mm calibres by the end of 2025. The mortar rounds ordered will be used by the Spanish army's infantry units. The company was recently awarded a contract to supply the Spanish army with 155mm artillery ammunition worth over €200 million ($216 million).
DPA International
German automotive and arms maker Rheinmetall announced on Tuesday that it has received a contract order worth €135 million ($144 million) from KNDS Germany, a defence equipment maker. The contract is to supply core components for 22 self-propelled howitzers PzH 2000. Rheinmetall will deliver 22 weapon systems L52 of 155 mm calibre and just as many chassis for the PzH 2000 for the German Bundeswehr, or armed forces. Following final system integration and commissioning at Rheinmetall in Unterluess, the first of these artillery systems will be delivered to the Bundeswehr in the summer of 2025.
DPA International
Lithuania's Defence Minister Arvydas Anušauskas welcomed the plans of German arms manufacturer Rheinmetall for a production facility in his country. The plans would mean "the creation of jobs as well as investments in our economy, most of which will be accompanied by the involvement of other companies," he said in a Facebook post on Thursday evening. "I am pleased about the joint participation of the Lithuanian authorities in this important defence project," he added. Rheinmetall previously confirmed plans to build an artillery production plant in Lithuania in 2023 at its annual press conferen...
DPA International
Germany's largest defence contractor Rheinmetall, which intends to significantly accelerate profit growth this year, is about to ramp up its production of artillery shells to 10 times the previously produced amount. Before the Ukraine war, around 70,000 shell were sold per year, but demand has now increased massively, Rheinmetall CEO Armin Papperger said on Thursday in Dusseldorf. With a view to the intended production capacities at the end of 2024, Papperger added: "We are talking about around 700,000 shells." With a a new production in Germany and two planned plants in Ukraine and Lithuania,...
DPA International
Germany's largest defence contractor Rheinmetall saw profits increase in the full year 2023 compared to 2022, and the company said on Thursday intends to significantly accelerate that growth this year. Rheinmetall AG reported that its fiscal 2023 earnings from continuing operations increased to €630 million ($689 million) from €534 million in the previous year. Earnings per share from continuing operations were €13.02 compared to €10.80. Consolidated operating result, or EBIT before special items, increased by 19% to €918 million. Basic earnings per share pre PPA effects from continuing operat...
DPA International
German arms manufacturer Rheinmetall said on Monday it has won an order to supply a European member of NATO with multiple rocket launcher ammunition. The company did not say which country had placed the order, but did say it was booked in December 2023, and represents a sales volume of more than €300 million ($325 million). The delivery is to take place between this year and 2027. The company said Rheinmetall Expal Munitions of Spain is responsible for manufacturing and delivering the rockets, which have a maximum range of 300 km. The order encompasses additional services and other systems.
DPA International
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