Rheinmetall shares rise as defense giant sees sales surging fivefold by 2030 [MSNBC.com]
RHEINMETALL AG UNSP/ADR (RNMBY)
NASDAQ:AMEX Investor Relations:
rheinmetall.com/en/rheinmetall_ag/corporate_social_responsibility/stakeholder_2/investoren_2/index.php
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Source: MSNBC.com
Key PointsIn this articleGerman Rheinmetall MAN tactical military transport vehicles parked in the Edvard Peperko military barracks.Luka Dakskobler | Lightrocket | Getty ImagesShares of Germany's It sees operating margin expanding to about 20%, up from 15.2% in 2024.Shares rose 3.4% to 1,782 euros Tuesday morning, topping the German blue-chip DAX index which was almost entirely in the red.Rheinmetall, like many other defense contractors, has benefitted from Europe's increased defense spending against the backdrop of Russia's full-scale invasion of Ukraine.Earlier this year NATO alliesagreed to increase defense spendingRheinmetall's revenue has already nearly doubled over the past three years, and shares have risen about 190% so far this year.Early Tuesday, Rheinmetall also announced a reorganization of its units, including creating a new naval unit, expected to bring in 5 billion euros in sales by 2030. CEO Armin Papperger said he hoped the new unit would be ready in January.
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