Rheinmetall reports Q3 defence growth

Rheinmetall has reported a year-on-year order growth of 52% for its defence division in the third quarter of 2017, with its most significant order in this period coming from the German Army for 2,271 HX2 trucks.

This follows a decline in incoming orders in the first quarter of 2017, followed by an uptick of 28% in the second quarter. Defence sales in the first nine months of the year grew 5.9%, a EUR113 million (USD131 million) increase to EUR2.02 billion, up on the EUR1.91 billion of sales made in the same period in 2016.

The defence division has almost doubled its operating earnings year-on-year, Rheinmetall said, adding that order intake in the defence sector is at a stable, high level.

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