Rheinmetall AG Exceeds Market Expectations in Q2 2024

Rheinmetall AG, headquartered in Düsseldorf, reported a substantial increase in sales and operating results for the second quarter of 2024. The company recorded a 49% year-over-year surge in sales, reaching €2,234 million. Operating earnings rose by 111% to €271 million, both figures exceeding market expectations of €2,064.1 million in sales and €226.2 million in operating results.

This positive trend is attributed to early sales recognition in the Weapon and Munitions division and higher sales from Rheinmetall Expal Munitions. The operating profit margin increased to 12.1%, surpassing the consensus estimate of 11.0%.

Rheinmetall's strong order intake in the second quarter, particularly from the Bundeswehr’s special fund procurement projects, boosted the company's overall performance. The order intake for the quarter reached €11.4 billion.

Based on the successful performance in the first half of the year, the Management has confirmed the sales and earnings forecast for the full year 2024. The company expects consolidated sales to reach around €10 billion with an operating earnings margin between 14-15%.