Rheinmetall reported very solid preliminary results, with sales slightly below our estimates which grew by 5% but the operating margin of its two divisions well above estimates. The Automotive division reported an 8.7% margin vs 8.5% expected and the Defence division reported a 5.7% margin vs 5.4% expected and while it was only 5% in FY16. Consequently, operating results grew by 13% to €400m. Lastly, operating FCF jumped by €276m. The performance in the Automotive Chinese JV was als
01 Mar 2018
Strong FY17 and desperately waiting for a stable German government
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Strong FY17 and desperately waiting for a stable German government
Rheinmetall AG (RHM:WBO) | 0 0 0.9% | Mkt Cap: 4,737m
- Published:
01 Mar 2018 -
Author:
Marc Laubel -
Pages:
2
Rheinmetall reported very solid preliminary results, with sales slightly below our estimates which grew by 5% but the operating margin of its two divisions well above estimates. The Automotive division reported an 8.7% margin vs 8.5% expected and the Defence division reported a 5.7% margin vs 5.4% expected and while it was only 5% in FY16. Consequently, operating results grew by 13% to €400m. Lastly, operating FCF jumped by €276m. The performance in the Automotive Chinese JV was als