By Cecilia Butini
Rheinmetall AG on Friday posted higher earnings and sales for the first half of the year as it saw an increasing order intake.
The German defense company said that operating profit for the period was 206 million euros ($211.1 million), up from EUR191 million the year prior. Sales rose to EUR2.67 billion from EUR2.58 billion, the company said. Chief Executive Armin Papperger said that order intake has been on the increase, including in the civilian business.
Looking ahead, Rheinmetall said that it expects 2022 sales to come in at the lower end of a previously-given forecast that projected growth of between 15% and 20%. The change in sales guidance reflects persistently high risks regarding the development of global automotive production, the company said. On the earnings side, Rheinmetall continues to expect an improvement in the operating result and an operating margin of over 11% in 2022.
Write to Cecilia Butini at [email protected]
Credit: www.marketwatch.com /