From Morningstar: 2025-05-09 04:55:00

Rheinmetall AG reported a 56% increase in group backlog to EUR 62.6 billion, with revenue rising 46% to EUR 2.31 billion. Management sees potential for European defense spending to reach 3.5% of GDP by 2029 and a 30% market share capture. The company formed a joint venture with Lockheed Martin to establish a European production base for missile systems.

Revenue growth was driven by vehicle systems and weapons and ammunition sales, while electronic solutions saw a 50% increase in revenue. Margins were impacted by F-35 ramp-up costs. Power systems remained margin-dilutive, but retooling for defense output is underway at civil sites in Berlin and Neuss.



Read more at Morningstar: Rheinmetall Stock Hits Record High: Another Strong…