Rheinmetall’s revenue surged nearly 70% as Germany remains a key Ukraine backer
German arms maker Rheinmetall has reported a nearly 70% surge in second-quarter revenue and more than doubled its operating profit as rising European military spending continues to boost demand for weapons across the region.
European arms manufacturers have prospered throughout the conflict, as Kiev’s backers have supplied its military with weapons while expanding their own defense industries. Shares in Rheinmetall, Europe’s largest defense contractor, have risen more than tenfold over the past six years. The company produces a broad range of military equipment that is supplied to Ukraine, including tanks, armored vehicles, artillery shells, and ammunition.
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