10 articles · Updated · The Wall Street Journal · May 7
Germany's biggest arms maker reported €1.94bn in revenue and €111m net profit, while its order backlog jumped 31% to about €73bn by the end of March.
Operating profit rose to €224m and the margin improved to 11.6%, though sales and operating profit both missed analyst expectations compiled by Vara Research.
Chief executive Armin Papperger said second-quarter growth should strengthen on large naval and vehicle orders and full-scale output at Murcia's ammunition plant; Rheinmetall maintained its 2026 outlook.
Rheinmetall's order book is at a record high, so why did its first-quarter sales fall short of expectations?
With Germany set to produce more ammo than the U.S., is Europe's defense industry now permanently on a war footing?
As Rheinmetall bets its future on a global arms race, what is its contingency plan if peace breaks out?