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Rheinmetall Q3 Profit Down - Quick Facts

German defense contractor Rheinmetall AG (RNMBF.PK) reported that its third-quarter earnings attributable to shareholders decreased to 44 million euros or 1.03 euros per share from 57 million euros or 1.33 euros per share in the previous year.

Sales for the third-quarter declined to 1.38 billion euros from 1.48 billion euros in the prior year.

The company still does not expect the coronavirus crisis to have any lasting impact on the Defense sector's business performance in 2020. Projected sales growth for the Defense sector, adjusted for currency effects, is around 6%. It expects operating margin to be between 10% and 11%, compared to prior outlook of about 10%.

For the Group, Rheinmetall expects a decline in sales, adjusted for currency effects, between 6% and 7% and - taking into account holding costs - a positive operating margin between 6% and 6.5%.

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