BERLIN (Reuters) -Rheinmetall on Thursday posted slightly worse-than-expected second-quarter sales due in part to a delay in German defence contracts being awarded but confirmed its full-year forecast.
The German defence company reported sales of 2.43 billion euros ($2.84 billion) in the three months to June, below the 2.53 billion euro consensus forecast according to a company-provided poll.
The maker of bombs, grenades, battle tanks and infantry fighting vehicles confirmed its 2025 guidance for sales growth of at least 25% to 30% after the previous year’s sales of 9.75 billion euros.
“Our order books are full and will continue to grow in the future,” said CEO Armin Papperger.
The company is investing in several European countries to create new capacity to meet demand in its core markets of Europe, Germany and Ukraine, he added.
The order backlog reached 63.2 billion euros in the first half, up from 48.6 billion euros in the same period last year.
($1 = 0.8569 euros)
(Reporting by Miranda MurrayEditing by Ludwig Burger)
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