BERLIN (Reuters) -German arms manufacturer Rheinmetall, one of the main beneficiaries of a boost in European defence spending, reported a 20% rise in consolidated sales, to 7.52 billion euros ($8.77 billion), in the first nine months of the year on Thursday.
“We have developed strongly and, with solid growth, are well on track to achieve our ambitious annual targets. The foundations have now been laid for a strong fourth quarter,” said CEO Armin Papperger.
Order intake declined slightly, with orders from Germany delayed due to the late passage of the federal budget, with order backlog now standing at around 64 billion euros.
The company also confirmed its forecast for full-year consolidated sales growth of 25% to 30% based on the expected business development until the end of the year.
($1 = 0.8575 euros)
(Reporting by Matthias Inverardi and Miranda Murray, Editing by Friederike Heine)
