Rheinmetall AG

RHM: XETR (DEU)

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Rheinmetall Earnings: Order Delays From German Election Mask Strong Backlog and Structural Growth

Loredana Muharremi

Nov 6, 2025

Rheinmetall group sales rose 13% to EUR 2.8 billion, led by 17% defense growth to EUR 2.3 billion. Operating income rose 19% to EUR 360 million, with margins of 12.9% groupwide and 15.7% in defense. Order intake fell 36% amid the German election, but backlog grew 23% to EUR 63.8 billion.

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Rheinmetall AG

Rheinmetall Earnings: Order Delays From German Election Mask Strong Backlog and Structural Growth

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