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MarketScreener Homepage  >  Equities  >  Xetra  >  Rheinmetall    RHM   DE0007030009

RHEINMETALL

(RHM)
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Rheinmetall : Multimillion-euro order from Hungary; Rheinmetall to manufacture main armament and hulls for PzH 2000 self-propelled howitzer and Leopard 2 main battle tank

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10/02/2019 | 11:25am EST

Rheinmetall is taking on an important role in the modernization of the Hungarian Army. The Dusseldorf-based Group is producing the main armament and fire control technology for forty-four Leopard 2 main battle tanks as well as the main armament, fire control technology and chassis for twenty-four PzH 2000 self-propelled howitzers. The package also encompasses thirteen HX and TGS logistic trucks. The contract, worth around EUR300 million, was recently signed. Delivery begins in 2021 and will be completed in 2025.

Rheinmetall has partnered with Krauss-Maffei Wegmann (KMW) to carry out the project. In December 2018 KMW won an order from the Hungarian armed forces for forty-four new Leopard 2A7+ tanks and 24 new PzH 2000 self-propelled howitzers. This will make Hungary the 19th Leopard 2 user nation and the eighth nation to opt for the PzH2000.

As well as having design authority, Rheinmetall is the original equipment manufacturer (OEM) of the 120mm smoothbore technology used in all versions of the Leopard 2 tank.

The same is true of the 155mm L52 main gun of the PzH 2000 self-propelled howitzer.

Tried and tested around the globe, the Group's 120mm smoothbore gun and ammunition have been continuously perfected right from the start. The higher-pressure 120mm L55A1 gun earmarked for the Leopard 2A7+ was successfully qualified at the end of 2017, and already supplied and installed for two Leopard 2 user nations in mid 2018. Moreover, the L55A1 tank gun is capable of firing the programmable DM11 multipurpose round.

In addition, Rheinmetall possesses comprehensive expertise in the field of tracked armoured vehicles, including as an OEM. The Group developed the chassis of the PzH self-propelled howitzer.

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (EUR)
Sales 2019 6 265 M
EBIT 2019 491 M
Net income 2019 295 M
Finance 2019 137 M
Yield 2019 2,30%
P/E ratio 2019 14,1x
P/E ratio 2020 13,5x
EV / Sales2019 0,65x
EV / Sales2020 0,60x
Capitalization 4 186 M
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Last Close Price 97,40  €
Spread / Highest target 31,4%
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Armin Papperger Chief Executive Officer
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