Rheinmetall Q2 profits and revenue rise
German defense company Rheinmetall announced that its operating profits in the second quarter exceeded expectations, reaching €562 million (£640 million), surpassing market forecasts of around €470 million. The company recorded a revenue increase of approximately 70% compared to the previous year, totaling around €3.3 billion, with the backlog of orders exceeding €80 billion after signing new contracts worth €11.37 billion, including a deal with the German military to purchase advanced munitions. The company anticipates revenue growth of over 60% during the period covered by the report, while also cautioning that free operating cash flow may enter a negative phase due to delayed payments. Rheinmetall will publish its first-half results on August 6, supported by continued increasing demand for its military equipment, which underpins its strong financial performance.
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