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19 Mar 15. Rheinmetall Outlook 2015: Sales growth and earnings upturn expected in both segments
. Group sales set to increase to between €4.8 and €5.0bn – anticipated
EBIT margin of approximately 5%
. Defence plans return to profitability and 3% EBIT margin
. Automotive anticipates increasing EBIT margin of 8%
. Consolidated sales up 6% to €4,688m – operating Group earnings of
. Automotive grew more quickly than the market – record EBIT of €184m
. Defence result negatively impacted by special items – higher order intake of €2.8bn
. Dividend proposal of €0.30 per share
For the current fiscal year, the Düsseldorf-based Rheinmetall Group expects sales growth and higher earnings in its two sectors Automotive und Defence. Based on a high order backlog, which reached a new high of €6.9bn to the end of the year (2013: €6.4bn), Rheinmetall anticipates increasing consolidated sales for 2015 to between €4.8bn and €5.0bn (2014: €4.7bn). For the Group, improved profitability is expected with an EBIT margin of approximately 5%. In fiscal 2014, the margin for EBIT before special items was 3.4%.
Rheinmetall AG CEO Armin Papperger commented, “Over the last few months, we have been very successful on our markets. As a result, we have laid the foundation for growth in the next few years. We will grow on an organic basis and are focusing fully on improving our operating performance. At Automotive we are very close to achieving the objectives, but of course want to achieve further improvements. And for the Defence business, I am confident that after a year with unusually high non-recurring charges, we will again move well into the black in 2015.”
Consolidated sales up 6% in fiscal 2014
In fiscal 2014, the Rheinmetall Group generated sales of €4,688m. In comparison to the previous-year figure of €4,417m, this represents growth of 6%, to which both company sectors contributed.
Operating earnings before interest and taxes declined from €212m in 2013 to €160m in 2014. It was thus €10m higher than the last guidance. The key factors driving this fall in earnings were negative operating factors in the Defence sector, such as the withdrawal of the export license for a training center in Russia. It was not possible to compensate this with higher earnings in the Automotive segment. High negative non-recurring effects in the Defence business also pushed down Group EBIT (after special items) from €121m in 2013 to €102m in fiscal 2014. A savings effect of €25m from the cost efficiency program