Defence & Space

Polish 35 mm SA-35 Self-Propelled Anti-Aircraft Gun with PIT-Radwar

During the recent MSPO trade fair in Kielce, the company PIT-Radwar presented its proposal for a 35 mm self-propelled anti-aircraft gun…

2025-06-13 | Przemysław Gurgurewicz | 13 minutes

ICEYE signs agreement to deliver SAR satellite capabilities to the Portuguese Air Force

The Polish-Finnish company ICEYE and the Portuguese Air Force (Força Aérea Portuguesa, FAP) announced the signing of an order for…

2025-06-13 | Redakcja | 4 minutes

Polish 35 mm SA-35 Self-Propelled Anti-Aircraft Gun with PIT-Radwar

During the recent MSPO trade fair in Kielce, the company PIT-Radwar presented its proposal for a 35 mm self-propelled anti-aircraft gun…

2025-06-13 | Przemysław Gurgurewicz | 13 minutes

Karkonosze Program: A Game-Changer for the Polish Air Force’s Tankers?

The Polish Air Force has been requesting the acquisition of aerial refueling tankers for years. The program to procure a multi-role transport…

2025-05-23 | Sławek Zagórski | 5 minutes

Polish 35 mm SA-35 Self-Propelled Anti-Aircraft Gun with PIT-Radwar

During the recent MSPO trade fair in Kielce, the company PIT-Radwar presented its proposal for a 35 mm self-propelled anti-aircraft gun…

2025-06-13 | Przemysław Gurgurewicz | 13 minutes

Lithuania Wants to Co-Produce Leopard 2A8 Tanks

Lithuanian Defense Minister Dovilė Šakalienė announced that the ministry is negotiating with the German defense industry over the possibility of…

2025-06-12 | Rafał Muczyński | 4 minutes

Advancing multi-domain EW operations: Rohde & Schwarz unveils latest innovations at AOC Europe

Rohde & Schwarz demonstrates the next generation of SIGINT/EW systems, sensor fusion and signal analysis solutions, designed to meet the evolving…

2025-05-12 | Redakcja | 2 minutes

Iberian Blackout: Is Poland Prepared for a Similar Scenario?

The blackout on the Iberian Peninsula has prompted a few cautious questions about whether Poland is secure in the event of…

2025-05-02 | Krzysztof Zagórski | 6 minutes

Spectra Group unveils Troposcatter on the Move (TOTM) to Asia at Indo Defence

Spectra Group is unveiling its new Troposcatter on the Move (TOTM) capability at Indo Defence, which delivers robust, secure, high-bandwidth…

2025-06-12 | Redakcja | 3 minutes

Poland: GROTowisko-25 Conference Begins Next Week

On the weekend of June 14–15, 2025, the next edition of GROTowisko will take place. Once again, the military complex…

2025-06-04 | Redakcja | 3 minutes

Polish 35 mm SA-35 Self-Propelled Anti-Aircraft Gun with PIT-Radwar

During the recent MSPO trade fair in Kielce, the company PIT-Radwar presented its proposal for a 35 mm self-propelled anti-aircraft gun…

2025-06-13 | Przemysław Gurgurewicz | 13 minutes

Lithuania Wants to Co-Produce Leopard 2A8 Tanks

Lithuanian Defense Minister Dovilė Šakalienė announced that the ministry is negotiating with the German defense industry over the possibility of…

2025-06-12 | Rafał Muczyński | 4 minutes

Poland: Buffer zone on the border with Belarus extended for another 90 days

The Minister of the Interior and Administration has signed a regulation introducing a temporary ban on presence in a designated area within the…

2025-06-11 | Redakcja | 4 minutes

Galvion awarded FBI contract for their Hellbender FE helmet

Galvion announces the successful award of a Federal Bureau of Investigation (FBI) contract for their Galvion Hellbender Federal Edition (FE) helmet…

2025-06-09 | Redakcja | 3 minutes

ICEYE signs agreement to deliver SAR satellite capabilities to the Portuguese Air Force

The Polish-Finnish company ICEYE and the Portuguese Air Force (Força Aérea Portuguesa, FAP) announced the signing of an order for…

2025-06-13 | Redakcja | 4 minutes

Pratt & Whitney Rzeszów to service Polish W-3 Sokół helicopters

The 3rd Regional Logistics Base has signed a contract with Pratt & Whitney Rzeszów for the overhaul of gearboxes and the…

2025-06-12 | Rafał Muczyński | 3 minutes

SBU on Operation Spider’s Web Details: Was a Tu-160 Strategic Bomber Destroyed?

The Security Service of Ukraine (SBU) has released a video compilation showing all FPV drone strikes carried out with Osa-type drones…

2025-06-07 | Rafał Muczyński | 3 minutes

Ukraine has destroyed a Russian Iskander-M ballistic missile system

The General Staff of the Armed Forces of Ukraine reported the destruction of one and damage to two additional 9K720 Iskander-M…

2025-06-05 | Rafał Muczyński | 3 minutes

ICEYE signs agreement to deliver SAR satellite capabilities to the Portuguese Air Force

The Polish-Finnish company ICEYE and the Portuguese Air Force (Força Aérea Portuguesa, FAP) announced the signing of an order for…

2025-06-13 | Redakcja | 4 minutes

Hanwha Systems and BAE Systems Sign MOU to Build Next-Generation Reconnaissance Satellite System

Hanwha Systems, a leading South Korean defense and aerospace technology company, announced today that it has signed a Memorandum of Understanding (MoU)…

2025-06-10 | Redakcja | 2 minutes
Shooting

Streamlight TLR-7 HL-X – a Bayonet of Light for Your Weapon

The devil’s not so scary once you shine a light on him—and he’s certainly easier to neutralize in the spotlight. A weapon-mounted flashlight…

2025-06-09 | Anna Mielczarek | 6 minutes

Mactronic M-Fire Guardian – A New Flashlight for Professionals

Mactronic is introducing a new angle flashlight, the M-Fire Guardian. According to the manufacturer, it is the first angle flashlight with red…

2025-06-04 | Michał Ihnatów | 6 minutes

Streamlight TLR-7 HL-X – a Bayonet of Light for Your Weapon

The devil’s not so scary once you shine a light on him—and he’s certainly easier to neutralize in the spotlight. A weapon-mounted flashlight…

2025-06-09 | Anna Mielczarek | 6 minutes

Mactronic M-Fire Guardian – A New Flashlight for Professionals

Mactronic is introducing a new angle flashlight, the M-Fire Guardian. According to the manufacturer, it is the first angle flashlight with red…

2025-06-04 | Michał Ihnatów | 6 minutes

Protective Rescuer Vest – BC Arms Archangel

The Archangel Rescuer Vest is the result of a collaboration between Polish companies Currahee and BC Arms. It was created in…

2025-05-16 | Mariusz Rams | 6 minutes

Direct Action Spitfire Plate Carrier – Part 1: Testing the Carrier

Nowadays, the market offers a wide range of options in the gear and load-bearing equipment category. One of the most basic…

2025-05-08 | Michał Gaweł | 14 minutes

Enforce Tac 2025 starts on February 24th

Enforce Tac is an international trade fair aimed at law enforcement officers, experts from government agencies, and representatives of the…

2025-01-30 | Michał Ihnatów | 4 minutes

POLSECURE: Holsters HPE Poland offer for uniformed services

At the 3rd International Police and Public Security Fair POLSECURE 2024 in Kielce, Holsters HPE Poland presented its offer for…

2024-05-01 | Redakcja | 2 minutes

MSBS GROT BULLPUP conversion now available

Fabryka Broni “Łucznik” Radom is introducing long-awaited conversion kits for the MSBS GROT S16 FB-M1 and S10 FB-M1 semi-automatic rifles,…

2025-06-02 | Michał Ihnatów | 3 minutes

IDET 2025: Grand Power Showcases M4M1 Carbines for the Slovak Armed Forces

At the International Defence and Security Technologies Fair IDET 2023 in the Czech Republic, Grand Power — a Slovak firearms manufacturer — showcased…

2025-05-28 | Michał Ihnatów | 4 minutes

Setting Up a Shooting Belt: An Example with Clawgear

To assist with shooting training and beyond, various belts and gear configurations have been developed and customized to suit individual needs. It’s…

2024-11-28 | Łukasz Kołodziejski | 14 minutes

Weapon light: a practical tool for everyday service. How to choose?

In the world of armed forces, where every second can determine the outcome of an operation, precision and effectiveness are…

2024-08-29 | Redakcja | 7 minutes

Over 100% increase in gun permits in Poland in 2024

The Polish Police have released statistical data on firearm permits issued in 2024. An increasing number of Poles now hold…

2025-02-20 | Michał Ihnatów | 5 minutes

Firearms In Poland 2023: Number of permits continues to grow

The National Police Headquarters has released statistics regarding the number of firearm permits and firearms themselves in the hands of…

2024-02-17 | Michał Ihnatów | 5 minutes

5 Best Value ATN Rifle Scopes Under €1500

ATN is a leading manufacturer of daytime optics, smart night vision, and thermal vision technology. The innovative features and ergonomic designs…

2022-11-11 | Redakcja | 8 minutes

MILMAG Visits Grand Power

Grand Power is a Slovak manufacturer of the acknowledged good quality firearms. Take part in our guided tour with English subtitles.

2022-05-23 | Redakcja | 1 minutes

Streamlight TLR-7 HL-X – a Bayonet of Light for Your Weapon

The devil’s not so scary once you shine a light on him—and he’s certainly easier to neutralize in the spotlight. A weapon-mounted flashlight…

2025-06-09 | Anna Mielczarek | 6 minutes

Protective Rescuer Vest – BC Arms Archangel

The Archangel Rescuer Vest is the result of a collaboration between Polish companies Currahee and BC Arms. It was created in…

2025-05-16 | Mariusz Rams | 6 minutes

EOTECH Holographic Sight – History, Technology, Practice

The holographic sight is a device known for nearly 30 years and used by professionals around the world. A favorite sight of many…

2024-09-02 | Michał Gaweł | 12 minutes

Rheinmetall with strong figures for the third quarter: Order backlog of €36.5 billion

Rheinmetall’s expansion of military business: further substantial growth in orders – Backlog increases by 42% to around €36.5 billion. Consolidated sales up 13% to €4.6 billion. Operating result climbs by 17% to €387 million. Operating margin improves to 8.4%.

9th November 2023. Rheinmetall AG, Düsseldorf, closed the third quarter of fiscal 2023 with continued sales growth and significantly higher income. This positive development was mainly driven by business with the armed forces of Germany and its partner nations in the EU and NATO. The Group recorded double-digit sales growth thanks to the dynamic market situation and the high level of demand in military business.

Photo: Rheinmetall AG

The sharp rise in the operating result in the third quarter, which significantly exceeded market expectations, had already prompted the Group to release an ad hoc statement on October 25, 2023. Based on its preliminary figures, Rheinmetall announced that it was expecting an operating result of €191 million in the third quarter of 2023 (Q3 2022: €120 million). The profit contribution from the most recent acquisition in Spain, the munitions manufacturer Expal, is already accounted for in this forecast.

In light of the current market situation and the consistently positive order situation, management is confirming its current guidance for the Group’s sales growth and operating margin.

Armin Papperger, CEO of Rheinmetall AG, commented: We are well on track to achieve our ambitious annual targets for sustainable and profitable growth. Many countries need Rheinmetall in order to meet the dramatically increased demand for military equipment – this is demonstrated by record figures for new orders and orders on hand. We accept the resulting responsibility to deliver and bring the projects to a successful conclusion.

Armin Papperger: The integration of our latest acquisition, the Spanish munitions manufacturer Expal Systems, has got off to a successful start. Furthermore, we have massively increased our additional capacities. As one of the world’s leading ammunition producers, we can make a considerable contribution in this set-up to ensuring Ukraine’s ability to defend itself in this area and to replenishing the supplies of NATO partners.

We are grateful for the opportunity to provide Ukraine with effective aid for its defence in close coordination with the German government. Now we are also operating directly within the country: The joint venture that we recently established with Ukrainian Defense Industry (UDI) in Kyiv has picked up pace. It will initially perform servicing and maintenance for Ukraine before we begin producing and developing military vehicles there, says Armin Papperger.

Rheinmetall Group: Sales growth of 13% – Rheinmetall Nomination climbs by around 130%

Consolidated sales increased by €529 million or 13% year-on-year to €4,618 million in the first three quarters of 2023 (previous year: €4,089 million). Adjusted for currency effects, sales were more than 14% higher than in the previous year. The percentage of international sales increased year-on-year from around 71% to 75%.

The consolidated figures also include the sales and earnings contributions of the Spanish company Expal Systems, which was acquired as at July 31, 2023.

The operating result for the period ended September 30, 2023, therefore amounted to €387 million, up €56 million or 17% on the previous year’s figure of €331 million 1. The improvement in the operating result is mainly attributable to dynamic performance on the market for security technology, which led to margin effects and a more profitable product mix. The Group’s operating margin improved to 8.4% in the third quarter of 2023 (previous year: 8.1%).

Earnings per share from continuing operations increased from €3.93 to €4.73 in the first nine months of fiscal 2023.

Operating free cash flow improved significantly by €251 million to €-427 million in the first three quarters of 2023 after €-678 million in the same period of the previous year. Despite the continued growth in inventories, operating free cash flow improved considerably in the first nine months of fiscal 2023 thanks to higher customer payments.

Rheinmetall Backlog saw substantial growth of around 42%, from €25.7 billion to €36.5 billion (September 30, 2023). In addition to orders on hand, Rheinmetall Backlog includes the call-offs expected from framework agreements in place with military customers and potential orders from contracts with civilian clients.

Rheinmetall Nomination more than doubled, increasing by around 130% year-on-year to €14,505 million in the first three quarters of 2023 (previous year: €6,325 million). Rheinmetall Nomination comprises traditional incoming orders as well as the volume from future call-offs under new framework agreements entered into with military customers and new contracts with civilian clients (nominations).

Vehicle Systems: Fivefold increase in order intake

Sales in the Vehicle Systems division, which mainly operates in military wheeled and tracked vehicles, increased by €351 million or 27% year-on-year to €1,671 million in the first nine months of 2023. The sales growth is attributable in particular to projects for the delivery of tactical vehicles.

Rheinmetall Nomination – the total of order intake and the volume of new framework agreements with military customers – increased by €4,047 million as against the previous year to €4,889 million. This was due in particular to a fivefold increase in order intake resulting from the acquisition of new major orders, especially in connection with the program to replace the Bradley infantry fighting vehicle in the US, orders for new Puma infantry fighting vehicles and state-of-the-art military trucks for the German armed forces, and the Leopard 2 upgrade for Norway. A framework agreement for trucks in Austria was another strategically important success.

Rheinmetall Backlog in the division – comprising orders on hand and the expected call-offs under the framework agreements in place with military customers – amounted to €15.0 billion as at September 30, 2023, up €2,716 million or around 22% on the previous year’s figure. The operating result improved from €123 million to €183 million in the first three quarters of 2023. This represents growth of €60 million or 49%. This positive development is mainly attributable to margin effects in projects. The operating margin of around 11% significantly exceeded the previous year’s level of around 9%.

Weapon and Ammunition: Backlog more than doubles to over €11 billion

The Weapon and Ammunition division generated sales of €1,035 million from its weapon systems and ammunition activities in the first three quarters of 2023, an increase of €186 million or 22% on the previous year’s figure. The year-on-year increase is due in particular to higher ammunition call-offs by customers and higher sales of protected truck cabs. The Rheinmetall Expal Munitions companies acquired on July 31, 2023 generated sales of €41 million.

Rheinmetall Nomination amounted to €7,026 million after the first nine months of 2023, well over double the strong figure recorded in the same period of the previous year (€2,352 million). Major new orders related to two multi-year framework agreements for munitions and associated initial call-offs of tank and artillery ammunition, ammunition orders for the Gepard anti-aircraft tank, and tank ammunition orders for Marder and Leopard 1 for Ukraine. The previous year’s high figure was therefore significantly exceeded.

Rheinmetall Backlog in the division more than doubled by €6,476 million or around 135% to €11.3 billion as at September 30, 2023 (previous year: €4.8 billion).

In the first nine months of 2023, the operating result improved by €70 million or 63% to €180 million (previous year: €110 million). This positive development is mainly attributable to a more profitable product mix. As a result, the operating margin rose substantially from 13% to over 17%. This includes an earnings contribution of €17 million from Rheinmetall Expal Munitions.

Electronic Solutions: Sales growth of 14%

The Electronic Solutions division, which produces solutions in the field of armed forces digitalization, infantry equipment, air defence and simulation, increased its sales by €87 million to €729 million in the first nine months of 2023 (previous year: €642 million); this corresponds to growth of around 14%.

Rheinmetall Nomination increased by €142 million or 17% year-on-year to €987 million. A major new order for Puma was placed in the first nine months of 2023. Rheinmetall Backlog amounted to €3.4 billion as at September 30, 2023, up 21% year-on-year (previous year: €2.8 billion).

In the first nine months of 2023, the operating result improved slightly to €52 million after €51 million in the previous year. The operating margin declined to 7.2% (previous year: 7.9%), largely as a result of changes in the product mix.

Sensors and Actuators: Nominated backlog up around 18%

Sales in the Sensors and Actuators division, which provides solutions for industrial applications and electric mobility as well as components and control systems for emissions reductions, increased by €11 million or 1% year-on-year to €1,057 million in the first nine months of 2023. This development primarily resulted from increased volumes in Europe. Booked business in the first nine months of 2023 was below the previous year’s level at €1,821 million (previous year: €2,083 million). The nominated backlog, i.e. the volume of call-offs expected from customer agreements, increased by around 18% to €8.3 billion as at September 30, 2023 (previous year: €7.0 billion).

The operating result declined by 42% to €39 million in the first three quarters of 2023 (previous year: €67 million). Among other things, this development is attributable to additional costs for dealing with the consequences of the cyberattack on the division’s IT systems in April 2023 as well as increased raw material prices, which can only be passed on to customers after a delay. Accordingly, the operating margin fell to 3.7% (previous year: 6.4%).

Materials and Trade: Downturn in sales due to cyberattacks

Sales in the Materials and Trade division, which supplies plain bearings and structural components and operates global aftermarket business, declined by €12 million or around 2% to €550 million in the first three quarters of 2023. The downturn was due in particular to the lower sales volume in the Bearings business unit. In the Trade business unit, the downturn in sales was attributable to the consequences of the cyberattacks in April 2023. Booked business amounted to €546 million in the first nine months of fiscal 2023. This represents a year-on-year decrease of almost 7% (previous year: €584 million). The nominated backlog was largely unchanged year-on-year at around €602 million as at September 30, 2023 (previous year: €604 million).

The operating result of the Materials and Trade division fell by €4 million or 9% to €41 million in the first nine months of 2023. The operating margin declined to 7.5% (previous year: 8.1%). This was due in particular to a decline in the at-equity result of a Chinese joint venture as well as the earnings effect of the downturn in sales.

Outlook: Current forecast for year confirmed

Rheinmetall is confirming its current annual guidance for 2023.

Dynamic performance on the market for security technology – especially in the Weapon and Ammunition division – led to a favorable product and margin mix in the third quarter. In recent months, the company has also continued to use strict cost control, active provisioning, and the mitigation of risks on the energy and procurement markets as measures to successfully counter the general trend of inflation and the situation on the markets for raw materials and primary products.

In light of the extremely positive development in the third quarter and the fact that call-offs are typically higher in Q4, the Executive Board is confirming its full-year sales and earnings guidance for 2023 with consolidated sales of between €7.4 billion and €7.6 billion and an operating margin of around 12%. The separately communicated sales forecast for Rhein­metall Expal Munitions is now above €190 million. The operating margin of Rheinmetall Expal Munitions is expected at above 25%.

Press release

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