Rheinmetall AG Reports Q1 2025 Results: Vehicle Systems Sales Surge 93.2%, Net Income Reaches €108M, EPS at €1.92

Rheinmetall AG has released its financial results for the first quarter of 2025, showing notable growth in several key areas. The company's sales in the Vehicle Systems segment surged by 93.2% to €952 million, up from €493 million in the previous year, with an operating result increase of 114.4% to €81 million, improving the margin from 7.7% to 8.5%. The Weapon and Ammunition segment also experienced a significant rise, with sales climbing 65.5% to €599 million, and the operating result increasing by 117.4% to €116 million, resulting in a margin improvement from 14.7% to 19.3%. In contrast, the Power Systems segment saw a 7% decline in sales to €505 million from €541 million, and the operating result dropped by 70% to €9 million, reducing the margin from 5.8% to 1.8%. The Electronic Solutions segment recorded a 49% increase in sales to €427 million, with the operating result rising by 56% to €27 million, leading to a margin increase from 6.0% to 6.3%. The company's earnings before taxes (EBT) stood at €147 million, while income taxes amounted to €39 million, resulting in earnings after taxes of €108 million. Of this, €84 million was attributed to Rheinmetall AG shareholders, with basic earnings per share from continuing operations reported at €1.92 and diluted earnings per share at €1.91. Rheinmetall highlighted the strong performance in its defense segments, with results nearly doubling, and acknowledged ongoing pressure on civil margins, which remain positive. The company also noted the high-quality backlog, supporting future growth prospects.