Germany's Rheinmetall aims to quintuple sales to €50 billion by 2030 [Yahoo! Finance]
RHEINMETALL AG UNSP/ADR (RNMBY)
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Source: Yahoo! Finance
Germany's largest defence contractor believes it is on track to increase its turnover fivefold within six years. "We want to be at around €50 billion in 2030," said CEO Armin Papperger to an audience of financial analysts in eastern Germany on Tuesday. "We want to be bigger and have better figures," he said. In 2024, Rheinmetall achieved annual sales of €9.8 billion ($11.4 billion). In 2021, before Russia's major attack on Ukraine, the figure was around €5.7 billion. As a result of the war in Ukraine, Rheinmetall is receiving significantly more orders for artillery, ammunition, air defence and tanks. Rheinmetall supplies both Ukraine directly and NATO countries, which are restocking and modernising military equipment to prepare for potential Russian aggression. Speaking at a presentation in Unterlüss during the company's Capital Markets Day, Papperger emphasized that a possible peace agreement in Ukraine or a freeze in the conflict would not halt Rheinmetall's upswing. NA
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