Germany’s largest defense company, Rheinmetall, has seen substantial growth in both orders and profits, driven by the ongoing war in Ukraine and changing global dynamics.
The company announced a revenue of approximately 9.8 billion euros for the past year, marking a 36% increase compared to 2023. Operating profit surged by 61%, reaching a historic high of 1.5 billion euros.
Rheinmetall also set a new record for the volume of orders, which climbed to 55 billion euros, a 44% rise from the previous year. This includes the company’s “backlog,” which encompasses current orders, framework contracts, and anticipated deals. For context, at the end of 2021—before the war in Ukraine—the company’s order volume stood at just 24.5 billion euros.
