Rheinmetall Stock News

Italy's Leonardo and Germany's Rheinmetall have secured through their joint ​venture two contracts with the Italian army ‌worth €3.7 billion ($4.16 billion) in total for armoured vehicles, the MF newspaper reported on Thursday.

German defence group Rheinmetall and Swiss-based shipping company ​MSC have acquired Romanian shipyard ‌Mangalia for €138 million ($155 million) and aim to develop it for both ​civilian and military shipbuilding, ​Rheinmetall said on Monday.

Proposed changes to Norway's sovereign wealth fund ethics rules could open the door to investments in more Western defense companies. The fund is currently barred from investing in companies including Lockheed Martin and Boeing because of their involvement in nuclear weapons production.

Defence company Rheinmetall will test drones, expand tank production ​and build a new logistics ‌centre in the central German city of Kassel, investing about €270 million ($314.31 million) ​in the projects, Chief ​Executive Armin Papperger said on Thursday.

Rheinmetall expects to generate initial revenue from joint production of ATACMS missiles with Lockheed Martin in ​Germany in 2028, CEO Armin Papperger told Reuters, with ‌demand likely to remain strong for at least 15 years.

Rheinmetall trimmed its 2026 guidance by 300 million euros, reflecting a cancelled order from the German government earlier this year. It came as the arms maker saw sales grow 39% and profits rise 74% in the first half of the year.

The company expects annual sales between $15.83 billion to $16.41 billion, guidance which remains above what it reported last year.