Rheinmetall reports significant growth over Q3
Highly mobile on the chassis of the Leopard 2, the pioneer troops use the Kodiak to create barriers. (Photo: Rheinmetall)
Rheinmetall reports a significant increase in earnings and margin over fiscal 2021, but predict semiconductor shortages may impact sales.
With an operating margin of 7.7%, Rheinmetall AG has reported that profitability has significantly increased over the first 3 quarters of 2021.
Armin Papperger, CEO, Rheinmetall AG, commented: ‘ We have now expanded our very high order backlog to more than €14 billion with major new orders’.
This growth has been fuelled by major contracts for the company.
They received contracts to modernise Challenger main battle tanks for the UK and deliver Kodiak armoured engineering vehicles and upgrade the Puma infantry fighting vehicles for the German Bundeswehr.
However, Rheinmetall predicts slower sales growth in its forecast for fiscal 2021 compared to its previous expectations. This has been caused by shortages of semiconductors and other materials.
The amended forecast predicts slightly lower sales growth of around 6%, €3.8 billion, for fiscal 2021, measured against the pro forma sales of €5,406 million in 2020, and an operating margin of around 10%.
The original forecast anticipated sales growth between 7% and 9%.
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