German defense concern Rheinmetall increased sales by 38% to 8.4 billion euros in the first nine months of 2026, achieving record profitability. The growth is largely due to the supply of artillery ammunition to Ukraine, as well as increased demand for air defense systems and the digitalization of armies against the backdrop of global security challenges.
German defense concern Rheinmetall increased sales by 38% to 8.4 billion euros in the first nine months of 2026, achieving record profitability. The growth is largely due to the supply of artillery ammunition to Ukraine, as well as increased demand for air defense systems and the digitalization of armies against the backdrop of global security challenges.
According to the company's official financial report , Rheinmetall's operating profit increased by 544 million euros during this period and reached a historical maximum of 1.339 billion euros. At the same time, the Group's operating profit margin increased from 13.1% to 16%.
The key growth driver was the arms and ammunition division, whose sales jumped by 34% (to 2.7 billion euros). The company's main drivers include contracts for the production of artillery and medium-caliber shells for Ukraine, as well as orders from other European countries.
The company's technology divisions also showed rapid growth. The air defense division, which creates the Skynex and Skyranger anti-drone systems, increased sales by 63% (to 731 million euros). In turn, the digital systems division, which deals with satellite technology, drones and loitering munitions, showed growth of 29%, reaching 1.3 billion euros.
"We are achieving very strong growth combined with high profitability. A solid order book enables us to expand capacity in the long term. All this is happening at 'Rheinmetall speed': for example, we transformed an empty production facility in the UK into a fully-fledged gun barrel factory in just eight months," said Rheinmetall CEO Armin Papperger.
Despite the record figures, the company's management was forced to slightly adjust its annual sales forecast from the previous 13.7-14.2 billion euros to around 13.2 billion euros. This decision was made due to delays in agreeing a major project for the German army and a shift in the timing of testing some artillery ammunition batches.
Recall, previously, Rheinmetall CEO Armin Papperger called Ukrainian drone manufacturers "housewives with 3D printers," for which he received a portion of criticism.
