Confirms 2024 sales, earnings forecast
Receives order for ammunition factory in Ukraine
Shares up 2.4 after results

BERLIN, July 24 Reuters German arms manufacturer Rheinmetall more than doubled operating profit in the second quarter, driven by a surge in defence spending as a result of Russia39;s invasion of Ukraine.

The company has been one of the main beneficiaries of the defence boom since the Ukraine war began in 2022. Its chief executive, Armin Papperger, was reportedly the target of a Russian assassination plot. The Kremlin denied the reports.

The maker of the Leopard 2 tank said that during the second quarter it received 11.4 billion euros in orders and in new framework deals that could later translate into firm orders.

The company said this was mainly due to orders from the German army using funds from a 100billioneuro special fund created after the invasion of Ukraine to bolster the country39;s armed forces.

The German company also said it had received an order from the Ukrainian government for the construction of an ammunition factory in Ukraine.

Operating earnings in AprilJune rose 111 yearonyear to 271 million euros 293 million beating expectations for 226 million, while the operating profit margin rose to 12.1, above the consensus for 11.0, based on the preliminary numbers, the German company said.

Rheinmetall shares were up 2.15 by 0925 GMT.

Sales rose 49 to 2.23 billion euros, above market expectations of 2.06 billion.

The secondquarter sales…