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Rheinmetall Sales Rise In Nine-month Period

Rheinmetall AG (RHM), a German integrated technology group on Friday said in an interim report that it has posted a rise in sales for the nine-month period ended in September, owing to an economic recovery in the automotive industry and an upturn in automobile manufacturing, following a decline due to the impact of Covid-19 driven slowdown.

The Düsseldorf-headquartered firm reported its consolidated sales at 3.84 billion euros in the first three quarters of 2021, compared to 3.63 billion euros reported for the same period, last year.

The Group's operating result increased in the nine-month period of the current fiscal to 297 million euros, from 205 million euros, reported for the 36-week period ended on September 30, 2020.

The operating margin is also recorded an increase, rising from 5.7 percent in the comparative period of the previous year, to 7.7 percent in the first 270-days of current fiscal.

Earnings per share from continuing operations doubled year-on-year to 4.16 euros from 2.08 euros reported in the first nine months of last year.

For the fiscal year 2021, Rheinmetall expects a slightly lower sales growth of around six percent, measured against the pro forma sales of 5.40 billion euros posted in 2020. The original forecast anticipated sales growth to be in the range of 7-9 percent.

For the current fiscal, the company projects to reach the upper end of the original forecast for the operating margin of 9 - 10 percent. Now it anticipates an operating margin of around 10 percent.

Thirteen analysts, on average, polled by Thomson-Reuters estimate the firm to report sales of 5.8 billion euros for the current fiscal. Analysts' estimates typically exclude one-time items.

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