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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BAE Systems    BA.   GB0002634946

BAE SYSTEMS (BA.)
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Rheinmetall beats BAE to $2.5 billion Australian contract

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03/14/2018 | 03:55am EST
File photo of Rheinmetall AG logo

FRANKFURT (Reuters) - Germany's Rheinmetall (>> Rheinmetall) beat BAE Systems (>> BAE Systems) to a $2.5 billion (1.79 billion pounds) Australian order for armoured reconnaissance vehicles, which comes on top of an existing major contract with the country for utility vehicles.

FRANKFURT (Reuters) - Germany's Rheinmetall beat BAE Systems to a $2.5 billion (1.79 billion pounds) Australian order for armoured reconnaissance vehicles, which comes on top of an existing major contract with the country for utility vehicles.

The Australian defence ministry will now enter exclusive final negotiations with Rheinmetall, the company said in a statement on Wednesday.

If the contract is finalised, the 211 Boxer vehicles will be built by Australian workers, using Australian steel and will create up to 1,450 jobs, Prime Minister Malcolm Turnbull and the defence ministry said in a separate statement.

Rheinmetall estimated the project size at around A$3.15 billion ($2.5 billion).

Deliveries will likely start in 2019 and run until 2026, safeguarding its business in Australia after its existing A$1.58 billion order for logistical vehicles, won in 2013, runs out at the end of the decade.

Rheinmetall shares were up 3 percent at the top of the MDAX index <.MDAXI> at market open.

(Reporting by Maria Sheahan; editing by Sunil Nair and Jason Neely)

Stocks treated in this article : Rheinmetall, BAE Systems
Stocks mentioned in the article
ChangeLast1st jan.
BAE SYSTEMS -0.51% 509 Delayed Quote.11.41%
MDAX 0.41% 23418.57 Delayed Quote.8.03%
RHEINMETALL 0.91% 86.46 Delayed Quote.11.04%
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Financials (GBP)
Sales 2018 18 459 M
EBIT 2018 1 879 M
Net income 2018 1 114 M
Debt 2018 796 M
Yield 2018 4,35%
P/E ratio 2018 14,66
P/E ratio 2019 13,57
EV / Sales 2018 0,93x
EV / Sales 2019 0,87x
Capitalization 16 350 M
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Number of Analysts 20
Average target price 6,38  GBP
Spread / Average Target 25%
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Charles Nicolas Woodburn Chief Executive Officer & Director
Roger M. Carr Chairman
Peter John Lynas Executive Director & Group Finance Director
Nigel Whitehead Chief Technology Officer
Steve N. Millward Chief Information Officer
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