German armaments maker Rheinmetall expects business to keep booming [Yahoo! Finance]
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: Yahoo! Finance
Sales are expected to rise to around €20 billion ($21 billion) by 2027, the company announced on Tuesday at a capital markets day in Rome. For the current year, the armaments group is targeting sales of around €10 billion, of which 15% is to remain as profit. The target for 2027 is 18%. Rheinmetall shares climbed to a record high following the announcement. Russia's full-scale invasion of Ukraine in February 2022 has driven a major increase in defence spending, as European militaries have sought to rebuild as well as supply Ukrainian forces with weapons to fend off the Russian attacks. Before the invasion, Rheinmetall shares were trading below €100. But recently, Rheinmetall stock reached €600.60 per share.
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