The Rheinmetall Group's sales grew 3.1% to EUR4.3 billion (USD4.7 billion) in the first nine months of this year, as gains in the Defence sector more than offset declines in the Automotive sector, according to the German technology company.
"Thanks above all to the strong defence sector, the group's business performance in the first nine months of the fiscal year remains robust despite the consistently weak state of the automotive industry," Rheinmetall said on 7 November.
Defence sales totalled EUR2.2 billion in the first nine months, up 11.8% from the same period last year. The Electronic Solutions division, which is delivering future soldier high-tech infantry equipment to the Bundeswehr, and the Vehicle Systems Division both fueled the growth.
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