UPDATE 1-Rheinmetall's Q1 boosted by defence sales, shares jump [Reuters]
RHEINMETALL AG UNSP/ADR (RNMBY)
NASDAQ:AMEX Investor Relations:
rheinmetall.com/en/rheinmetall_ag/corporate_social_responsibility/stakeholder_2/investoren_2/index.php
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Source: Reuters
UPDATE 1-Rheinmetall's Q1 boosted by defence sales, shares jump - Reuters 3 Min Read * Expects 4-6 pct group organic growth * Defence sales up 24 pct * Automotive sales fall, but margins hold up * Share up 2.8 pct (Adds detail) BERLIN, May 9 (Reuters) - Germany’s Rheinmetall on Thursday confirmed its outlook after a 15 percent rise in first-quarter operating profit on higher defence sales, boosting its shares. “Given the extensive backlog of demand in armed forces’ procurement, we continue to see major opportunities in the Defence sector â?? in Germany and internationally,” CEO Armin Papperger said in a statement. Earnings before interest and taxes (EBIT) rose to 54 million euros from 47 million a year earlier and topped the 41 million expected by analysts. Rheinmetall shares were up 2.8 percent at 0914 GMT to lead Germany’s midcap MDAX index. Revenue rose 6.6 percent led by defence sales, which account for roughly half of its total, which jumped by 24 percent to 629 million euros ($7
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