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Rheinmetall Q1 Earnings, Sales Rise; Confirms FY19 Outlook - Quick Facts

German defense contractor Rheinmetall AG (RNMBF.PK) reported Thursday that its first-quarter earnings per share grew around 35 percent to 0.74 euro from last year's 0.55 euro.

Operating earnings before interest and taxes increased 15 percent to 54 million euros from 47 million euros in the previous year. The operating earnings margin at Group level rose to 4.0 percent from 3.7 percent a year ago.

Automotive operating earnings margin remained at high level of 6.9 percent, despite decline in sales.

Consolidated sales for the quarter grew 6.6 percent to 1.34 billion euros from 1.26 billion euros a year ago. Adjusted for currency effects, the growth was 6.5 percent.

The order backlog amounted to 9.1 billion euros, up 26 percent from last year's 7.2 billion euros.

Further, the company confirmed its fiscal 2019 outlook, and continues to expect organic consolidated sales growth of between 4 percent and 6 percent before currency effects from around 6.1 billion euros in fiscal 2018. The company still expects an operating margin of around 8 percent for the year.

Rheinmetall expects an operating earnings margin of around 8 percent for the Automotive sector in fiscal 2019. Rheinmetall anticipates a further improvement in the Defence sector and forecasts an operating earnings margin of between 8.0 percent and 8.5 percent.

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