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Rheinmetall AG (0NI1.L)

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6,231,000,064.00+47.17 (+0.00%)
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  • EQS Group

    Rheinmetall AG: Preliminary figures for the first quarter of 2021: Rheinmetall has strong start to the year

    Rheinmetall AG / Key word(s): Quarter ResultsRheinmetall AG: Preliminary figures for the first quarter of 2021: Rheinmetall has strong start to the year 20-Apr-2021 / 15:19 CET/CESTDisclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement. Preliminary figures indicate that in the first quarter of 2021 Rheinmetall AG achieved consolidated sales of €1,405 million (Q1 2020: €1,358 million) and a consolidated operating result of €87 million (Q1 2020: €34 million). The operating result did not contain any special effects in the previous year, nor does it contain any in the current fiscal year. At 6.2%, the operating margin is at an exceptionally high level for the first quarter of the year (Q1 2020: 2.5%).The preliminary figures for the first quarter of 2021 show that, for both sales and earnings, Rheinmetall is exceeding not only the previous year's key figures but also current market expectations, which - based on current analyst estimates - have a mean value of €1,371 million for sales and €72 million for the operating result.The positive performance in the first quarter of 2021 is the result of the recovery on the global automotive markets combined with customer decisions to bring forward ammunition deliveries that were originally expected for the second quarter of 2021. Not only this, but the cost-cutting measures introduced last year in the wake of the coronavirus pandemic are now also taking full effect.In light of the still relatively high level of uncertainty in the macroeconomic environment and given the situation on the procurement markets, Rheinmetall is sticking to the full-year forecast it published last month. For fiscal 2021 and including the non-core piston business, the forecast envisages operating sales growth of between 7% and 9% (2020 sales: €5,875 million) and an operating margin of between 8% and 9% (2020 operating margin: 7.3%). The Executive Board of Rheinmetall AG will continue to observe market developments over the coming months and adjust the forecast for fiscal 2021 if needed.Rheinmetall will publish the complete quarterly figures and its quarterly financial report for the first quarter of 2021 on May 6, 2021.20-Apr-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: Rheinmetall AG Rheinmetall Platz 1 40476 Düsseldorf Germany Phone: +49 (0)211 473-4749 Fax: +49 (0)211 473-4157 E-mail: dirk.winkels@rheinmetall.com Internet: www.rheinmetall.com ISIN: DE0007030009 WKN: 703000 Indices: MDAX Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich, Stuttgart; Regulated Unofficial Market in Hanover, Tradegate Exchange EQS News ID: 1186722 End of Announcement DGAP News Service

  • BAE Systems submits proposal for US armoured vehicle contract
    Yahoo Finance UK

    BAE Systems submits proposal for US armoured vehicle contract

    Other companies are believed to have entered the competition to replace the ageing Bradley armoured fighting vehicles BAE originally built.

  • EQS Group

    Rheinmetall AG: Non-cash impairment charges for Automotive sector in second quarter of 2020 / quarterly result better than consensus

    Rheinmetall AG / Key word(s): Quarter Results/Miscellaneous Rheinmetall AG: Non-cash impairment charges for Automotive sector in second quarter of 2020 / quarterly result better than consensus 27-Jul-2020 / 16:10 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. * * * In the second quarter of fiscal 2020, Rheinmetall AG will recognize non-cash impairment charges of €300 million for the Group's Automotive sector. They relate almost entirely to Automotive's Hardparts division. The impairment charges are primarily due to dramatically reduced production volumes in the international automotive industry for 2020 in the wake of the COVID-19 pandemic and to current expert assessments, which - compared with pre-coronavirus forecasts and planning assumptions - anticipate significantly lower growth for passenger cars and light commercial vehicles even over the medium term. They are projecting a global production downturn of over 20% on 2019 levels in the current year, with experts' projections suggesting that production will not return to pre-crisis levels before 2024.The impairment charges at Rheinmetall Automotive will impact certain key figures such as reported EBIT, consolidated operating earnings and the Rheinmetall Group's equity ratio. The development of operating earnings margins in the sectors remains unaffected by the impairment charges.Rheinmetall is also currently examining strategic options in the Automotive sector. Restructuring provisions of €40 million are anticipated in the third quarter of 2020 in this regard and will become cash-effective in the years 2020 to 2022. They mainly include cost for capacity adjustments and production relocations undertaken to optimize the global network of locations in the Division Hardparts (€24 million), as well as cost for the realignment and the new structural orientation regarding the preparation of an entry into new markets of the Division Mechatronics (€16 million).Initial preliminary figures indicate that the Rheinmetall Group will end the second quarter of 2020 in better shape than anticipated with regard to its key figures and will exceed the recent consensus of analysts' estimates for consolidated sales performance and operating earnings.Extensive and fast-acting cost-cutting measures allowed the Automotive sector to manage the significant downturn in business triggered by the COVID-19 pandemic more effectively than initially anticipated in the second quarter of 2020, and it is surpassing the recent consensus of analysts' estimates for operating earnings by around €35 million.Preliminary figures for the reporting period from April to June 2020 put sales in the Automotive sector at €338 million (previous year: €726 million) and the quarterly operating result at €-52 million (previous year: €+52 million). Based on the consensus estimate of Vara Research, analysts are currently expecting the Automotive sector to generate quarterly sales of €332 million and an operative loss for the quarter of €-87 million.According to preliminary figures, in the second quarter of 2020 the Defence sector achieved quarterly sales of €901 million (previous year: €746 million) and an operating result of €+93 million (previous year: €+60 million). The consensus of analysts' estimates projects quarterly sales of €814 million and a quarterly operating result of €73 million.On the basis of preliminary figures for the Rheinmetall Group, the key figures for both sectors translate to quarterly sales of €1,239 million (previous year: €1,471 million) and a quarterly operating result of €+36 million (previous year: €+110 million). The corresponding analysts' estimates are €1,146 million for sales and €-18 million for operating earnings.* * *27-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de * * * Language: English Company: Rheinmetall AG Rheinmetall Platz 1 40476 Düsseldorf Germany Phone: +49 (0)211 473-4749 Fax: +49 (0)211 473-4157 E-mail: dirk.winkels@rheinmetall.com Internet: www.rheinmetall.com ISIN: DE0007030009 WKN: 703000 Indices: MDAX Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich, Stuttgart; Regulated Unofficial Market in Hanover, Tradegate Exchange EQS News ID: 1102507 End of Announcement DGAP News Service