Rheinmetall Aktiengesellschaft Rheinmetall Aktiengesellschaft: Q2 significantly exceeds market expectations with record revenue growth and earnings

Rheinmetall had already announced in its ad hoc statement on 2 July 2026 that the expected revenue growth of over 60% for the reporting period would be achieved.
According to preliminary figures, revenue in the second quarter rose to around 3.289 bnEUR, representing growth of around 69 per cent compared with the same quarter last year. Owing to this increase in revenue and the improvement in operating performance, operating profit also rose significantly and, at 562 mEUR, is almost 20 per cent above market expectations of 469.9 mEUR. Operating metrics have thus been significantly exceeded.
All segments contributed to this year-on-year improvement in revenue and earnings.
Rheinmetall Backlog rose above the 80 bnEUR mark in the second quarter, as Rheinmetall Nominations for 11.371 bnEUR were recorded. These include the contract for loitering munitions with the Bundeswehr and the order package signed with Romania as part of the SAFE programme.
A significantly negative OFCF is expected in the second quarter, as advance payments have been shifted. Preparations for capacity expansions have continued as planned. In addition, increased trade receivables – due to the high level of revenue recognised at the end of the quarter and the build-up of inventories for subsequent quarters – had a negative impact on OFCF.
On 6 August 2026, Rheinmetall will publish its half-year results in full detail.
Contact:
Dr. Philipp von Brandenstein +49 (0) 211 473 4300, philipp.vonbrandenstein@rheinmetall.com