Rheinmetall is on track for success: all-time earnings high, record order backlog
Fiscal 2022- Consolidated sales grow by 13% to €6,410 million
- Operating result (EBIT before special items) increases by 27% to a new record figure of €754 million
- Group’s operating margin increases to 11.8%, after 10.5% in the previous year
- Operating free cash flow increases from €217 million to €419 million
- Another all-time high in the Rheinmetall order backlog of €26.6 billion
- Proposed dividend increases to €4.30 per share, after €3.30 in the previous year
- Rheinmetall forecasts sales and earnings growth to continue in fiscal 2023
- Consolidated sales currently expected to grow to between €7.4 billion and €7.6 billion
- Group’s operating margin expected to be approximately 12%
The Rheinmetall Group continued on its profitable growth trajectory and closed fiscal 2022 with record figures once again. A new high was reached in the operating result (EBIT before special items). The technology group’s order backlog also set a new record, driven by high-volume major orders from military customers, the fact that international automotive manufacturers are awarding more contracts again, and the growing business in industries outside of the automotive sector as a result of the successful transformation.
Armin Papperger, Chief Executive Officer of Rheinmetall AG, comments: “Rheinmetall is taking responsibility in a changing world. In terms of business, we remain on a very good trajectory. Our evolution into an integrated technology group continues to pay off: We have generated a record result of €754 million. We are very proud of this achievement, which is based on growth and profitability in our five divisions. We have also set ourselves ambitious targets for sustainable, profitable growth in the future. This applies not only to our security business, but also to our civilian activities. The share of sales attributable to alternative drive technologies continues to grow, and we are well on track to handle the transformation away from the combustion engine. We will leverage new growth potential, such as in industrial applications or hydrogen.”
Rheinmetall increases sales and continues to improve operating result and margin
- Consolidated sales increased by around 6.5% to €4.1 billion
- Operating result improved by around 9.0% to €323 million
- Operating margin of 7.9% exceeds previous year’s level of 7.7%
- Significant growth in orders intake within the Group
- Annual forecasts for 2022 confirmed
The Rheinmetall Group is entering the final quarter of fiscal 2022 with sales growth, increased profitability and a further improvement in the operating result. Overall, Rheinmetall is seeing an increase in orders and confirms the current annual forecasts for the expected sales growth and operating margin for the Group.
Armin Papperger, Chief Executive Officer of Rheinmetall AG, says of the company’s performance: “After nine months, we are still on track to achieve our annual forecasts. We are growing in all divisions and increasing profitability throughout the Group. The operating result has set a new record after three quarters. And we also expect a particularly strong final quarter this year – especially in the military business, where we are benefiting now and in the next few months from substantial orders as a result of increased defence budgets. With our civilian products, we are seeing growing numbers of orders for components and systems for drive electrification. This shows that we are well on the way to mastering the transformation of the industry to full electric mobility.”