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Rheinmetall Q1 Operating Profit Declines; Confirms FY18 Guidance - Quick Facts

Rheinmetall (RNMBF.PK) reported that owing to lower sales, first-quarter EBIT declined to 47 million euros from 50 million euros last year. At Group level, however, operating profit margin remained unchanged at 3.7%.

First-quarter Group sales were 1.26 billion euros compared to 1.35 billion euros for the same quarter the previous year. The decline of 6.6% was due entirely to weaker first quarter sales growth at Defence. Adjusted for currency effects, Group sales trailed the previous year's figure by 3.7%. The first quarter witnessed a sharp increase in order intake at Group level, which rose to 1.599 billion euros. This represents an increase of 40% compared to the first quarter of the previous year.

For 2018, the company projects operating margin will be around 7%. Rheinmetall AG's annual sales are set to rise organically by 8% to 9% in the current fiscal year.

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