© Reuters. FILE PHOTO: The emblem of Rheinmetall is seen at a manufacturing line of German firm Rheinmetall, which produces weapons and ammunition for tanks and artillery, throughout a media tour on the firm’s plant in Unterluess, Germany, June 6, 2023. REUTERS/Fabia
BERLIN (Reuters) – The CEO of Germany’s largest defence contractor Rheinmetall mentioned he anticipated an extra increase to the corporate’s inventory market worth because of the Ukraine conflict and elevated defence spending in Europe.
“Our working earnings in 2025 ought to be about 1.5 billion euros ($1.6 billion), possibly even 1.7 billion euros. For a good valuation, multiply that with an element of 11 or 12. That offers you an order of magnitude,” CEO Armin Papperger instructed German newspaper writer RND in an interview revealed on Satursday.
“A valuation of 17 billion euros is lifelike for Rheinmetall over the medium time period,” he added.
Rheinmetall’s present inventory valuation is about 10.5 billion euros, on 2022 working earnings of 754 million euros.
The inventory market worth of the corporate, a maker of tanks, ammunition and different conflict tools, has tripled since December 2021 and it joined Germany’s blue-chip earlier this yr.
($1 = 0.9305 euros)
