Rheinmetall AG: Record Results in H1 2025

Financial results Rheinmetall posts record results in H1 2025 – Defence business up 36%

2025-08-08 Source: Press release 2 min Reading Time

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In the first half of 2025, Rheinmetall AG achieved double-digit growth in revenue and profit, driven almost entirely by the defence business. While order intake in Germany has been delayed due to political shifts, the group confirms its full-year outlook and expects further growth from international demand.

The company continues to expand its defence production footprint across Europe(Bild: Rheinmetall AG) — The company continues to expand its defence production footprint across Europe
(Bild: Rheinmetall AG)

Rheinmetall AG, headquartered in Düsseldorf, has reported record figures for the first half of 2025. Group revenues rose by 24% year-on-year to €4.74 billion, while operating profit climbed 18% to €475 million. The defence segment was the main driver, accounting for €464 million of that profit and achieving a 36% increase in revenues.

The military division’s order backlog reached a new all-time high of €63 billion, despite a slight decline in new nominations due to delays in public procurement following Germany’s federal elections. Rheinmetall’s leadership nonetheless anticipates a significant ramp-up in the second half of the year, citing strong momentum from NATO and Ukraine-related demand.

CEO Armin Papperger reaffirmed the group’s long-term ambitions: “We are on track to become a global defence champion. Our order books are full and will continue to grow. We are expanding our footprint in Central and Eastern Europe and building new capacity across the continent.”

Key contributors to the revenue increase included military vehicle systems, which saw a 46% rise in turnover to €1.9 billion, and the weapons and ammunition division, which reported a record €1.32 billion in sales—a 26% increase. The latter benefited from high demand for artillery and medium-calibre munitions from NATO countries and Ukraine. The division’s operating margin climbed to 21.2%.

Rheinmetall also posted a strong performance in Electronic Solutions, with revenues up 46% to €944 million. Major orders included battlefield communication systems and soldier equipment under Germany’s “Future Soldier – Extended System” programme. However, earnings margins in this segment declined slightly due to investment in new production facilities for the F-35 programme.

The civilian division, Power Systems, lagged behind with a 7% drop in revenue. As Rheinmetall shifts its focus toward defence, civilian operations are no longer part of the group’s strategic core.

Rheinmetall confirmed its full-year guidance for 2025, projecting 25–30% revenue growth and an operating margin of around 15.5%. The group also indicated that an upward revision may follow if geopolitical developments trigger accelerated demand.

Rheinmetall expands its footprint in Romania through a local production network for infantry fighting vehicles, ammunition and training services. (Bild: Rheinmetall AG)

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Date: 08.12.2025

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