Rheinmetall reports “boom” as results hit new records with orders for vehicles, ammunition and weapons
The company’s backlog has been boosted by framework agreements, such as a deal valued at €3.5 billion ($3.8 billion) for up to 6,500 trucks. (Photo: Rheinmetall)
Rheinmetall is riding high as Europe scrambles to boost its defence forces and replenish spent stockpiles sent to Ukraine.
Germany’s Rheinmetall has reported a “boom” in financial results for calendar year 2024, noting “the highest sales in the company's history” for its defence business.
Specifically, the company reported consolidated sales of €9.8 billion (US$10.7 billion) compared with 2023’s sales of €7.2 billion, an increase of €2.65 billion or 36%. A key highlight from the results was that the backlog reached €55 billion, a new high, on 31 December 2024 after announcing €38 billion on the same day in 2023.
The vehicle systems business, notably wheeled and tracked military vehicles, generated sales of €3.8 billion compared with €2.6 billion in
Already have an account? Log in
Want to keep reading this article?
More from Defence Notes
-
![Companies post mostly rosy results but warn of potential dark clouds]()
Companies post mostly rosy results but warn of potential dark clouds
First quarter 2025 results have been dropping for companies in the past week but many of the US results come with a health warning in their forward-looking aspects about the potential impact of actions by the Trump administration.
-
![Spain unveils new multi-billion euro defence investment plan]()
Spain unveils new multi-billion euro defence investment plan
The new plan outlined how Spain would reach 2% of its GDP spend on defence by 2025, with €1.9 billion earmarked for new equipment acquisition with several land, naval and air platforms disclosed to be replaced or upgraded.
-
![New Zealand boosts defence spend to US$6.6 billion and vows increased closeness with Australia]()
New Zealand boosts defence spend to US$6.6 billion and vows increased closeness with Australia
This budget will be spent over the next four years and nearly doubles the country’s defence spending as part of GDP to 2%.
-
![UK Chancellor commits £2 billion to make the country a “defence industrial superpower”]()
UK Chancellor commits £2 billion to make the country a “defence industrial superpower”
Rachel Reeves announced port upgrades, protected budgets for innovation and investment in novel technologies.
-
![Avalon 2025: Australian defence budget meets the low expectations of show attendees]()
Avalon 2025: Australian defence budget meets the low expectations of show attendees
The Australian Budget was marked by tax cuts and a looming general election which led to little hope that there would be a substantial defence boost even with a big bill for nuclear submarines due.
-
![Launch of Gilat Defense targets DoD market]()
Launch of Gilat Defense targets DoD market
The communications company Gilat launched its new Gilat Defense division at the Satellite 2025 expo, with future solutions aimed at US military customers.
