Rheinmetall H1 Sales Rise; Backs Full-year Guidance

Rheinmetall AG (RNMBF.PK), a German automotive and arms maker, on Friday posted a decline in earnings per share or EPS for the first-half. However, it registered a rise in operating result and sales for the same period.

For the full-year, the company has reaffirmed its guidance.

The Düsseldorf-headquartered firm's EPS from continuing operations decreased on year-on-year basis from 2.50 euros, to 2.28 euros in the first half of fiscal 2022.

Adjusted for special effects, EPS from continuing operations rose to 2.63 euros, compared with last year's 2.50 euros.

Operating result was at 206 million euros as against 191 million euros a year ago. The improvement is based mainly on sales growth in the high-margin Weapon and Ammunition division. A better product mix and strict cost management also had a positive effect.

The Weapon and Ammunition division generated sales of 564 million euros, up 93 million euros, or around 20 percent from last year's first six-month period.

Consolidated sales moved up to 2.67 billion euros, compared with 2.58 billion, recorded for the same period, last year.

Looking forward, Rheinmetall confirmed the current earnings forecast for fiscal 2022, expecting an improvement in the operating result and an operating margin of over 11 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Seffner, Florida -based Canyon Furniture Co. is recalling ladders sold with bunk bed and hutch sets citing entrapment and strangulation risks, the U.S. Consumer Product Safety Commission said. The about 2,100 units of Canyon Lake and Cottage Colors Bunk Bed and Hutch Sets were sold exclusively at Rooms To Go. Lyft announced the expansion to its partnership with Indeed in Jobs Access program. The ride-hailing company will be providing transportation access for Indeed's Ready to Work program. Indeed's Ready to Work program is a series of free virtual and in-person events for job seekers in several cities across the U.S. from September 15 to October 8, 2022. Pool and Spa drain covers imported to the United States by various companies have been recalled due to violation of the Virginia Graeme Baker Pool and Spa Safety Act, the U.S. Consumer Product Safety Commission announced. The various recalls include pool and spa drain covers manufactured in China and sold exclusively at Amazon.com for different prices ranging from $10 to $12.
Follow RTT