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- Rheinmetall (OTCPK:RNMBF) (OTCPK:RNMBY) on Tuesday said its first-quarter profit had risen 60% from a year earlier as the German maker of military equipment saw greater demand after Russia invaded Ukraine.
- The company’s order backlog grew by 43% to 40.2 billion euros ($43 billion).
- Operating earnings increased 60% to €134 million.
- Revenue rose 16% from a year earlier to €1.58 billion.
- Since the invasion began in 2022, Rheinmetall (OTCPK:RNMBF) (OTCPK:RNMBY) has seen a significant increase in orders from Western countries that expand defense spending and replace inventories that were sent to Kyiv.
