Rheinmetall Cuts 2026 Sales Forecast Again as Boxer Order Slips
The defense group lowered margin and cash-conversion targets after delays pushed Arminius revenue and artillery ammunition sales into later years.
- On Wednesday, German defense giant Rheinmetall lowered its 2026 sales forecast to about 13.2 billion euros, citing delays in the Arminius Boxer vehicle project and artillery ammunition deliveries.
- Lowering its operating margin target to about 18.5%, the company scrapped expectations for an Arminius award this year, pushing associated revenue and advance payments into next year.
- Despite the guidance cut, Rheinmetall reported strong third-quarter results, with sales rising 32% to 3.15 billion euros and operating profit increasing 62% to 553 million euros.
- RBC analysts called the announcement "clearly negative," warning that delays in the Boxer program could fuel investor concerns regarding traditional defense technology and medium-term guidance.
- Shares are down roughly 35% year-to-date, though the company maintains a strong backlog of 78 billion euros as it continues to benefit from increased European military spending.
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Düsseldorf-based defence company Rheinmetall lowers its forecast for sales and profit margins. This has fatal consequences for the share price. Has the company raised too high expectations?
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Rheinmetall shares, one of the largest arms producers in Europe, fell by more than 17% on Thursday, after the German company announced that it expects lower revenues and profits than...
Zeit Online
Shares in German arms maker Rheinmetall fell about 13 percent on Thursday after the company cut its revenue outlook for the second time this year, citing the postponement of a major military order for Boxer armored vehicles. The company is now worth nine times what it was before Russia's invasion of Ukraine, even though its shares have fallen by about half since January.
After the election victory of the democrats, investors hope for an early end to the Iran war, but the shares of armament companies such as Rheinmetall will fall sharply.
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