Financial Times: German arms manufacturer Rheinmetall made huge profit on conflict in Ukraine
The German arms concern Rheinmetall received a record number of orders for its products – worth 48.6bn Euros by the end of June – due to the increase in Europe's defence potential against the background of the conflict in Ukraine, TASS reports with reference to The Financial Times
“Sales in the first half of the year increased by a third to 3.8bn Euros, while operating profit nearly doubled to 404m Euros on the back of rising orders for weapons and munitions,” the publication reads.
According to the source, the concern's key projects included orders for artillery for Germany and Ukraine, with the largest order since the beginning of the year being a contract with the Bundeswehr for Boxer armoured vehicles totalling 2.2bn Euros. Rheinmetall CEO Armin Papperge announced the plans to build a number of factories in Ukraine specialising in tank maintenance, ammunition and air defence equipment production.
