Overview
- Rheinmetall, which held a virtual AGM Tuesday, kept its 2026 guidance for €14–14.5 billion in sales with about a 19% margin and proposed a €11.50 dividend per share.
- CEO Armin Papperger restated a 2030 revenue target of €50 billion and said the order backlog could reach about €135 billion this year, up from €73 billion in the first quarter.
- The company began series production of loitering munitions, often called kamikaze drones, in Neuss and outlined long‑range missile work with startup Destinus at its Unterlüß site.
- Rheinmetall is chasing major awards in naval and land programs, including a bid to take over the F‑126 frigate project and an expected first Boxer/Arminius order tranche in the third quarter of 2026.
- Shares have fallen about 18% over the past week and roughly 35% in six months, and investors pressed management on missed first‑quarter targets in a shareholder Q&A that was not open to media.