Rheinmetall AG, a leading German arms manufacturer, reported its FY 2023 earnings with an operating margin of 12.8%, slightly above expectations of 12.4%, and an operating profit of EUR 918M, just below the expected EUR 924.5M. The company has forecasted a significant sales increase for 2024, expecting about EUR 10B, surpassing the expected EUR 9.59B. This growth is attributed to a 11.9% increase in sales, including a 29.2% increase in the Weapons & Ammunition sector, and improvements in EBIT (19.4%) and EPS (34%), with an EPS of EUR 14.65 and a P/E ratio of 28.8x. Rheinmetall also announced a 33% increase in its dividend to EUR 4.30, yielding 1%. The 2024 outlook anticipates sales to reach EUR 10B, a 39% increase, with an EBIT margin of 14-15%, implying a 62% EBIT growth from EUR 8.92bn to EUR 14.5bn. Rheinmetall also announced plans to expand its operations by opening at least four arms factories in Ukraine, aiming to produce projectiles, military equipment, gunpowder, and air defense systems. This expansion is in response to the rising geopolitical tensions and the changing threat situation in Europe, particularly due to the war in Ukraine, which has driven up defense spending.
🇩🇪The German arms manufacturer #Rheinmetall plans to open at least four factories in #Ukraine, The Guardian reported. https://t.co/JPkPgw2FU0
Rheinmetall intends to open four arms factories in Ukraine German arms concern Rheinmetall has announced plans to open at least four factories in Ukraine amid forecasts of record profits from arms sales this year, AFP writes. The company said the factories in Ukraine, which has… https://t.co/wTeAU11HGH
German defence firm Rheinmetall plans Ukraine arms factories https://t.co/sixxxj9IBK
👀✊ German Rheinmetall wants to build at least four arms factories in Ukraine, — Le Monde ❗️Rheinmetall plans to create factories for the production of: projectiles, military equipment, gunpowder and air defense.
Rheinmetall forecasts record sales amid Europe’s ‘changing threat situation’ https://t.co/YxWRtMpzCs
⚠️ RHEINMETALL HAILS 'NEW DECADE' AS DEFENCE SPENDING DRIVES UP SALES Full Story → https://t.co/RxqNHvo7An German arms manufacturer Rheinmetall said on Thursday it expects record sales and increased profitability this year, as the war in Ukraine drives up defence spending in… https://t.co/SXkJ5tj0ZL
Rheinmetall $RHM 2023 results Sales +11.9%, incl. Weapons & Ammunition +29.2% EBIT +19.4% EPS +34% (€14.65, 28.8x P/E) Dividend +33% (€4.30, 1% yield) 2024 outlook for €10bn sales (+39%) EBIT Margin 14-15% (2023: 12.8%) Implying 62% EBIT growth (€8.92bn to €14.5bn) https://t.co/dHwPdnQvAM
Arms Maker Rheinmetall Forecasts Another Year of Sales Growth Amid Rising Geopolitical Tensions https://t.co/LnDTC72vCI
Rheinmetall AG FY 23 Earnings: - Operating Margin: 12.8% (exp 12.4%) - Operating Profit: EUR918M (exp EUR924.5M) - Sees 2024 Sales About EUR10B (exp EUR9.59B)