Rheinmetall Exceeds Q2 Expectations with Record Growth

Rheinmetall Aktiengesellschaft reported significant revenue growth in the second quarter of 2026, surpassing market expectations. Preliminary figures show revenue reaching approximately 3.289 billion EUR, marking a 69% increase compared to the same quarter last year. This growth translated into an operating profit of 562 million EUR, nearly 20% above market expectations of 469.9 million EUR.

The revenue and earnings improvements were driven by all segments, with a notable increase in the company’s backlog, which surpassed 80 billion EUR. Key contracts included loitering munitions for the Bundeswehr and a package with Romania under the SAFE program.

However, the company anticipates a significantly negative operational free cash flow (OFCF) for the quarter due to shifted advance payments and increased trade receivables. Rheinmetall plans to release its detailed half-year results on August 6, 2026.