Shares of Germany’s Rheinmetall surged as the defense giant predicts sales to quintuple to 50 billion euros by 2030, driven by high demand for weapons amid geopolitical tensions and the Ukraine war. Operating margin is expected to reach 20%. Rheinmetall’s revenue has nearly doubled in the last three years, with shares up 190% this year. The company also announced a reorganization, including a new naval unit expected to generate 5 billion euros in sales by 2030. NATO allies agreed to increase defense spending to 5% of GDP by 2035.

Read more at CNBC: German defense giant sees sales surging fivefold by 2030