Rheinmetall customers order ammunition in bulk

Dhe arms group and automotive supplier Rheinmetall received orders for large quantities of ammunition in the first quarter. Group-wide sales of almost 1.27 billion euros were almost as high as a year earlier, as the MDax-listed company in Düsseldorf announced on Friday.

In the weapon systems and ammunition sector, on the other hand, turnover jumped by 17% to 258 million euros. In addition, the division recorded orders for almost 1.15 billion euros – more than ever before. According to the information, a “large volume ammunition order” from Hungary contributed particularly to this.

For the coming months, Rheinmetall boss Armin Papperger also expects significant growth across the group as a whole. For the full year, the group’s sales should continue to increase by 15 to 20% compared to 2021 – if the federal government implements its plans to modernize the Bundeswehr.

More than eleven percent of annual sales should then remain as operating profit at Rheinmetall. In the first quarter, that margin was just 7.3%, even though operating profit rose nearly 10% year-on-year to 92 million euros. Rheinmetall shareholders posted a surplus of 48 million euros, one million less than a year earlier.

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