FX.co ★ Rheinmetall AG FY23 Profit Rises

Rheinmetall AG reported an increase in the earnings from its continuing operations for Fiscal year 2023, rising from 534 million euros to 630 million euros compared to the previous year. The earnings per share from their continuing operations has also seen an increase, reporting 13.02 euros per share, up from 10.80 euros. The company's operating result, or EBIT before special items, showed a 19% increase, rising to 918 million euros. The basic earnings per share pre PPA effects also saw an increase, standing at 14.65 euros up from 10.96 euros.

In the fiscal year 2023, the company's consolidated sales stood at 7.18 billion euros, showing a 12% increase from the previous year. Even amidst exchange rate fluctuations and M&A effects, the company witnessed a sales growth of 11.9%. Considering these factors, the actual sales growth was reported at 10.6%.

Rheinmetall Group has projected its annual sales to rise to roughly 10 billion euros in the fiscal year 2024. The company also anticipates an improvement in the operating result and a group operating margin of 14% to 15%.

A dividend payment of 5.70 euros per share for the fiscal year 2023 will be proposed at the Annual General Meeting, scheduled to be on May 14, 2024.