Key Figures Q1 2025
The German defense company Rheinmetall recorded a significant increase in revenue and profit in the first quarter of 2025. The numbers reflect the increased demand for military goods due to geopolitical tensions and heightened defense spending.
| Key Figure | Q1 2025 | Q1 2024 | Change |
|---|---|---|---|
| Revenue (Mio. €) | 2,305 | 1,581 | +46% |
| Operating Income (Mio. €) | 199 | 134 | +49% |
| Operating Margin (%) | 8.7 | 8.5 | +0.2 PP |
| Net Income After Taxes/Third Parties (Mio. €) | 84 | 48 | +75% |
| Basic Earnings Per Share (€) | 1.92 | 1.13/1.10* | |
| Diluted Earnings Per Share from Continuing Operations (€) | 1.91 | 1.13 |
*In some sources, the basic earnings per share for the previous year is reported as “about €1.10”; however, most report “around €1.13”.
The annual profit amounted to around €84 million, an increase of approximately +75% compared to the previous year. Other reports mention a “profit from continuing operations” of up to €108 million – this figure likely refers to the operating income before certain adjustments or special effects.
Background and Outlook
The strong development is primarily attributed to the boom in the defense business: the operating income in this segment nearly doubled. The operating margin increased slightly and stood at around 8.7%.
For the full year, Rheinmetall confirmed its forecast:
- Sales growth of approximately 25-30%
- Expected operating margin for the full year, including acquisitions: approximately 15-15.5%
Significance for Investors
The current figures are likely to be of particular interest to DAX investors:
- The company benefits significantly from the globally rising demand for military equipment.
- The high demand not only leads to a revenue boom (+46%) but also to a substantial improvement in margins.
- The basic earnings per share increased by about two-thirds, according to some sources even by more than two-thirds.
Conclusion
Rheinmetall’s business model is currently favored by the geopolitical situation – there is an extraordinary dynamism in both sales and margin developments. It remains to be seen whether this trend will continue or whether regulatory or economic factors could have a slowing effect in the future.
“Steep growth at Rheinmetall in the first quarter of 2025 – operating result in defense business almost doubled.”
“Rheinmetall confirmed the sales and result guidance for fiscal year with a growth in group sales of up to around thirty percent.”