In demand: Rheinmetall’s largest order in the year to date was for Boxer armoured vehicles (pictured) worth a total of £1.9bn
Germany’s largest arms manufacturer has accumulated a record order backlog worth over £41billion as sales and profits continue to surge amid wars in Ukraine and Gaza.
Rheinmetall’s sales in the first half of the year increased by a third to £3.3billion with the order backlog expected to swell to as much as £60billion by the end of the year.
Operating profits also rose to £346million, nearly double last year’s levels.
The group said key projects had included artillery orders for Germany and Ukraine, with the largest order in the year to date being a contract with the Bundeswehr – Germany’s armed forces – for Boxer armoured vehicles worth a total of £1.9billion.
Boss Armin Papperger has drawn the ire of the Kremlin by announcing plans to build a string of factories in Ukraine, focused on tank maintenance, munitions and air defence.
The Russian foreign ministry last week labelled the factories a ‘legitimate target’.
***
Read more at DailyMail.co.uk