The Düsseldorf-based company also benefits from contracts for procurement projects from the Bundeswehr’s special fund.
Higher military spending by Western countries and a takeover have also given the arms company and automotive supplier Rheinmetall a jump in profits in the second quarter. With sales increasing by almost half to just over 2.2 billion euros, the operating result more than doubled year-on-year to 271 million euros, the DAX group announced on the basis of preliminary figures.
The Düsseldorf-based company confirmed its annual targets. The positive business development is mainly due to sales brought forward in the weapons and ammunition sector and to a higher sales contribution from Rheinmetall Expal Munitions. Rheinmetall took over the Spanish ammunition manufacturer on August 1 last year.
In addition, Rheinmetall now spoke of strong order intake in the second quarter thanks to the implementation of procurement projects from the Bundeswehr’s special fund.
Rheinmetall plans to present its full quarterly figures on August 8.
Source: Stern
