Full Year 2025 Rheinmetall AG Earnings Call Transcript
Key Points
- Rheinmetall AG (RNMBF) reported a strong financial performance for 2025, with sales nearing EUR 10 billion and an operating result growing by 33% to EUR 1.841 billion.
- The company achieved an operating margin of 18.5%, reflecting improved profitability.
- Rheinmetall AG (RNMBF) experienced significant organic growth, with a 29% increase in sales driven primarily by existing businesses.
- The backlog reached EUR 64 billion, a 36% increase, indicating strong future demand and order visibility.
- The company is well-positioned to capitalize on increased defense spending, with expectations of EUR 80 billion in potential orders for 2026.
- The company faced delays in order intake due to limited customer capacity, impacting the timing of some contracts.
- There was a reduction in sales figures due to the exclusion of the civilian business, resulting in a loss of about EUR 2 billion in sales.
- Rheinmetall AG (RNMBF) experienced operational challenges, such as the accident in Murcia, which limited growth in the Weapon and Ammunition segment.
- The geopolitical situation, including conflicts in the Middle East, presents uncertainties that could affect business operations.
- The company is undergoing significant capacity expansions and investments, which could strain resources and require careful management.
Ladies and gentlemen, welcome to the Rheinmetall AG full-year 2025 conference call. I'm Mauritz, your Chorus Call operator. (Operator Instructions). And the conference is being recorded. (Operator Instructions) The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Armin Papperger, CEO. Please go ahead, sir.
Thank you very much. Good afternoon. I start with page number 3, and I welcome you to the full-year call of the Rheinmetall Group. The year 2025 was a good year for Rheinmetall. We had smaller impacts from the ammunition side because of the accident that we had in Murcia. But I think with nearly EUR10 billion sales, itâs a good year.
The operating result is growing 33% to EUR1.841 billion, and the operating margin is growing up to 18.5%. Important is to understand that we no longer have our civilian business in those figures, so we lose about EUR2 billion on sales.
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