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    RHM   DE0007030009

RHEINMETALL AG

(RHM)
  Report
Real-time Estimate Tradegate  -  03:10:16 2023-03-24 pm EDT
262.50 EUR   +0.54%
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Rheinmetall moving towards order backlog of 30 billion euros - CEO

01/28/2023 | 01:14pm EDT
Armin Papperger, CEO of German defense and automotive group Rheinmetall AG in Duesseldorf

DUESSELDORF (Reuters) - German arms maker Rheinmetall had a record year in 2022 and is approaching an order backlog of 30 billion euros, CEO Armin Papperger told Reuters in an interview.

"In 2022, we had a very good year, a record year," he said, saying that the fourth quarter would even beat good third quarter results.

"We are approaching an order backlog of 30 billion euros, and I expect to see an order backlog of 40 billion euros next year," said the CEO of the company, which sells a whole range of defence products but is probably most famous for supplying the 120mm gun of the Leopard 2 tank.

Papperger said he expected to see at least 15% to 20% growth in Rheinmetall's defence division over the coming years, with the civilian business likely to account for only 20% of sales in 2025.

On Tuesday, Papperger had nudged up the group's mid-term sales outlook in anticipation of a windfall from higher defence spending due to the war in Ukraine.

Rheinmetall expects sales to grow to 11 billion-12 billion euros ($12 billion -$13 billion) in 2025, he told German magazine Stern.

The projection is higher than the 10 billion-11 billion euro range Rheinmetall gave during its capital markets day in November. For 2022, the company expects 6.5 billion euros in sales.

Rheinmetall is seen as a strong candidate for moving up into Germany's main stock index DAX.

($1 = 0.9205 euros)

(Reporting by Sabine Siebold; Editing by Angus MacSwan)

By Sabine Siebold and Anneli Palmen


ę Reuters 2023
Stocks mentioned in the article
ChangeLast1st jan.
DAX -1.66% 14957.23 Delayed Quote.9.24%
RHEINMETALL AG 0.73% 263 Delayed Quote.40.34%
All news about RHEINMETALL AG
12:03pDd : Rheinmetall AG: Dr. Michael Mielke, Share allocation as part of remuneration under th..
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03/23RHEINMETALL AG : Receives a Buy rating from JP Morgan
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03/23Dd : Rheinmetall AG: ATP Holding GmbH, Paid deposit transfer from PL Elektronik GmbH (tran..
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Analyst Recommendations on RHEINMETALL AG
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Financials
Sales 2023 7 760 M 8 452 M 8 452 M
Net income 2023 609 M 663 M 663 M
Net Debt 2023 1 127 M 1 228 M 1 228 M
P/E ratio 2023 18,6x
Yield 2023 2,05%
Capitalization 11 409 M 12 273 M 12 427 M
EV / Sales 2023 1,62x
EV / Sales 2024 1,30x
Nbr of Employees 21 788
Free-Float 99,4%
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Technical analysis trends RHEINMETALL AG
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 11
Last Close Price 261,10 €
Average target price 281,27 €
Spread / Average Target 7,73%
EPS Revisions
Managers and Directors
Armin Papperger Chief Executive Officer
Dagmar Steinert Chief Financial Officer & Director
Ulrich Grillo Chairman-Supervisory Board
Michael Salzmann Chief Compliance Officer
Andreas Georgi Member-Supervisory Board
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