Rheinmetall has lowered its forecast for 2026 after delays to major orders. The Düsseldorf-based defense contractor now expects revenue of about €13.2 billion, down from its previous range of €13.7 billion to €14.2 billion. It also reduced its expected operating margin to around 18.5%, from about 19% previously forecast.
One factor is a likely delay in awarding the contract for the Bundeswehr’s “Arminius” Boxer wheeled armored vehicle project. Rheinmetall said it no longer expects the relevant order to be placed in 2026.
The company also anticipates delays in the acceptance of batches of artillery ammunition. As a result, the associated revenue is expected to shift into 2027.
The Bundeswehr plans a large order of Boxer vehicles in several configurations for the project. Rheinmetall and KNDS are producing the vehicles. Industry sources have previously discussed a possible order of up to 3,000 vehicles.
Sources: Handelsblatt.