Wednesday, March 29, 2023

German arms company Rheinmetall increases sales

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defense industry

German arms company Rheinmetall increases sales

Against the background of the Ukraine war, Germany’s largest armaments group, Rheinmetall, has increased its business significantly. In 2022, sales were around 6.4 billion euros.

The German armaments group Rheinmetall increased sales significantly in the past year. One reason for this is arms deliveries to Ukraine. (Archive image)

That was 13 percent more than in 2021, the company announced on Friday based on preliminary figures. This does not include the piston business, some of which has already been sold.

Growth has thus accelerated, in 2021 sales had only increased by around 5 percent. In terms of operating profit, the group expects an increase of more than 20 percent for 2022, which would be significantly more than 700 million euros. The final figures are to be presented on March 16th.

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