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Rheinmetall Q2 profits beat forecasts
German defense company Rheinmetall achieved strong operating profits in the second quarter of the year, surpassing expectations due to increased demand for military equipment. Profits reached €562 million, exceeding the forecast of €470 million, with revenues rising by approximately 70% to €3.3 billion. The company also recorded a backlog of orders exceeding €80 billion, with new contracts valued at €11.37 billion, including an agreement with the German military for advanced munitions. The company anticipates revenue growth of over 60% during this period, though it has cautioned about potential negative cash flow due to payment deferrals. Rheinmetall will publish its first-half results on August 6, amid strong demand for its defense products.
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