DUESSELDORF (dpa-AFX) - Rheinmetall (RNMBF.PK) reported that its preliminary consolidated operating result for the first-quarter rose to 87 million euros from 34 million euros in the previous year.
Consolidated sales for the quarter were 1.41 billion euros up from 1.36 billion euros in the prior year.
The company noted that it is exceeding not only the previous year's key figures but also current market expectations, which - based on current analyst estimates - have a mean value of 1.371 billion euros for sales and 72 million euros for the operating result.
The positive performance in the first quarter of 2021 is the result of the recovery on the global automotive markets combined with customer decisions to bring forward ammunition deliveries that were originally expected for the second quarter of 2021.
Rheinmetall said it is sticking to the full-year forecast it published last month. For fiscal 2021 and including the non-core piston business, the forecast operating sales growth of between 7% and 9% and an operating margin of between 8% and 9%.
Rheinmetall will publish the complete quarterly figures and its quarterly financial report for the first quarter of 2021 on May 6, 2021.
Copyright RTT News/dpa-AFX