Tag: $Rheinmetall

German arms manufacturer Rheinmetall more than doubled operating profit in the second quarter, driven by a surge in defence spending as a result of Russia’s invasion of Ukraine.

The German army intends to order 200,000 more artillery shells from armsmaker Rheinmetall than it had planned, a letter seen by Reuters on Tuesday from the Defence Ministry to parliament’s budget committee.

Lithuania signed a protocol of intention with Germany’s Rheinmetall on Tuesday to build an ammunition factory in the Baltic state, the country’s government said on Tuesday.

German arms manufacturer Rheinmetall expects record sales and increased profitability this year, as the war in Ukraine drives up defence spending in the NATO bloc in a trend set to buoy the company for years to come, it said on Thursday.

Rheinmetall said it has received an order to supply components for the production of Fuchs 2 wheeled armored vehicles to an undisclosed partner.

Rheinmetall said that it has won a contract to carry out a modernization of the Austrian air defence system for 532 million euros.

Rheinmetall received an order to supply Ukraine with artillery rounds worth around 142 million euros ($154.5 million), as demand for ammunition shows no sign of abating in a defense landscape significantly altered by Russia’s invasion of its neighbor.

DUESSELDORF, Nov 21 (Reuters) – German arms company Rheinmetall expects sales of 13 billion to 14 billion euros ($14.18 billion to $15.27 billion) in revenue in 2026 and operating margins of more than 15%, it said on Tuesday in a presentation for an investor day.