Rheinmetall's Q1 2026 profits surge as naval and air defence divisions lead growth
Rheinmetall has reported strong financial results for the first quarter of 2026, with sales climbing to €1.9 billion. This marks an 8% increase compared to the same period last year. The company’s naval and air defence divisions played a key role in driving growth. The defence group’s naval systems division saw a notable boost in March 2026, recording €77 million in sales. This surge came from new-build surface ship projects, including Germany’s fleet service vessel (FDB424) and Bulgaria’s Multi-Purpose Modular Patrol Vessel (MMPV 90). The division’s order backlog now stands at €5.5 billion after expanding into the maritime sector.
Rheinmetall’s air defence division also performed strongly, with sales rising by 43% to €192 million. Meanwhile, the digital systems division reported a 16% increase, reaching €349 million in sales. The tracked and wheeled vehicles division saw a modest 3% rise, contributing €985 million to overall revenue.
Despite these gains, the company has kept its annual sales forecast unchanged. Rheinmetall still expects group sales to fall between €14 billion and €14.5 billion for the year. However, it anticipates a sharper growth acceleration in the second quarter, driven by large-volume naval and automotive orders. Order books remain at record levels, reflecting sustained demand across divisions. Rheinmetall’s first-quarter results highlight robust demand in naval and air defence markets. The company’s backlog and upcoming orders suggest continued momentum in 2026. Analysts will watch closely as the second quarter unfolds, with expectations of further growth in key divisions.
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