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Rheinmetall H1 Operating Earnings Up, Sales Down

German defense contractor Rheinmetall AG (RNMBF.PK) Thursday reported that its consolidated operating earnings for the half year grew 15 percent to 154 million euros. The Group's operating margin was 5.6 percent versus 4.8 percent last year.

For the first half, Rheinmetall's sales declined 1.9 percent year-on-year to 2.753 billion euros. Adjusted for currency effects, sales slid 0.6 percent.

Sales in Automotive sector grew 1.7 percent to 1.491 billion euros, while sale in defence sector fell 6.0 percent to 1.263 billion euros.

Looking ahead to the full year, the Group expects its sales to grow organically by around 8 percent, compared to last year's 5.9 billion euros.

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