BERLIN (Reuters) -Rheinmetall, whose fortunes have surged amid Europe’s renewed interest in defence, aims to quintuple sales by the start of the next decade, the German company said on Tuesday.
The group guided for sales of around 50 billion euros ($58 billion) – five times its 2024 revenue of 9.8 billion euros – and an operating margin of more than 20% by 2030 during a presentation for its Capital Markets Day.
Shares were up 1.7% as of 0850 GMT.
Rheinmetall also announced a new structure from next year, including a new naval segment that it said has a 2030 sales potential of 5 billion euros.
Rheinmetall, which said on Tuesday it plans to grow through M&A activity in the coming years, recently announced the takeover of the Luerssen Group’s warship division, NVL.
CEO Armin Papperger said during the presentation that he hopes the naval division will be ready in January.
The other new divisions include Air Defence, showing the company’s increased focus on drones, as well as Digital.
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(Reporting by Miranda Murray and Matthias Inverardi, Editing by Madeline Chambers and Thomas Seythal)
