logo
Plus   Neg
Share
Email

Rheinmetall 9-month Operating Earnings Up 9% - Quick Facts

Rheinmetall (RNMBF.PK) reported that its operating earnings improved by 9% to 252 million euros in the first nine months of 2018 compared to 231 million euros in the previous year. Earnings per share was 3.59 euros compared to 2.40 euros. Operating earnings margin for the Group increased to 6.1% from 5.5%.

For the first nine months of 2018, sales were on par with the previous year at 4.16 billion euros. Sales were up by 2.0% after adjustment for currency effects. Sales in the Automotive sector were 2.20 billion euros in the first nine months of 2018 - equivalent to year-on-year growth of 2.3% or 4.5% adjusted for currency effects.

The Group slightly raised its forecast earnings margin for the current fiscal year, but simultaneously lowered its projection for sales growth due to a market environment beset by greater uncertainty.

Rheinmetall expects sales to grow organically by around 5% in the current fiscal year. The company now expects sales growth of 2% to 3% in the Automotive sector (previously 3% to 4%).

The company expects an absolute improvement in operating earnings and an operating margin of slightly more than 8.5% for the Automotive sector in fiscal 2018. Taking into account holding costs and including expenses in the mid-single-digit millions
for the realization and marketing of new technologies, the Rheinmetall Group has a
margin of more than 7%.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration (FDA) has gone ahead with the approval of antiviral drug remdesivir as first treatment for COVID-19, notwithstanding last week's findings by the World Health Organization (WHO) that the drug is not effective for COVID-19 treatment. Thursday, Gilead Sciences announced that the FDA approved remdesivir, sold under the brand name Veklury. Integrated payments firm American Express Co. (AXP) reported Friday that net income for the third quarter declined to $1.1 billion or $1.30 per share from $1.8 billion or $2.08 per share in the prior-year quarter. Consolidated total revenues, net of interest expense, also decreased 20 percent to $8.8... The Federal Trade Commission or FTC has launched a new fraud reporting platform, using which, consumers can easily report fraud and all other consumer issues directly to the regulator. In a statement, the FTC said its new website, ReportFraud.ftc.gov, will provide a streamlined and user-friendly way to submit reports about scams, frauds, and bad business practices.
Follow RTT