Completely new level: a bulging order book lifts the mood at Rheinmetall

The auto supplier and defense group Rheinmetall sees itself on the upswing despite clouded sales expectations for 2021. “We were able to expand our very high order backlog with important order successes to over 14 billion euros and thus reach a completely new level for Rheinmetall,” said CEO Armin Papperger when the final figures for the third quarter were presented in Düsseldorf on Friday.

The group had cut its sales expectations for the current year due to bottlenecks in semiconductors and individual raw materials at the end of October. On a comparable basis, management expects an increase of only 6 percent instead of 7 to 9 percent compared to the Corona year 2020. Thanks to savings, however, around 10 percent of sales should remain with the company as operating profit. This corresponds to the upper end of the previous forecast.

Sales in Q3 at the previous year’s level

As already known, Rheinmetall’s sales in the third quarter of 1.26 billion euros remained roughly at the level of the same period in the previous year. The operating result fell by three percent to 106 million euros. The bottom line was that the profit attributable to the shareholders jumped by almost two thirds to 73 million euros. This was mainly due to the fact that there were major burdens in discontinued operations a year ago. (dpa / mer)

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Lenny Li

I started to play with tech since middle school. Smart phones, laptops and gadgets are all about my life. Besides, I am also a big fan of Star War. May the force be with you!

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