Interim report as of March 31, 2013
- Consolidated sales decline by 13% to €962 million in the first quarter
- Negative EBIT of €19 million
- Defence sees significant decline in sales, but order intake remains high
- Automotive negatively affected by weaker economy and restructuring measures
- Rheinmetall 2015 strategy program implemented systematically
- Forecast for fiscal year 2013 remains unchanged
The Düsseldorf-based Rheinmetall Group has started the new fiscal year modestly in both business sectors. Lower sales and initial restructuring measures strongly affected results. However, the company is sticking to its forecast for the year as a whole.
“2013 will be a year of transition for Rheinmetall,” said CEO Armin Papperger. “We have launched an extensive package of measures to increase cost efficiency and are implementing these measures systematically. I am confident that Rheinmetall will return to its former profitability from 2015 on.”
As expected, the Group’s business volume in the first quarter of 2013 decreased compared to the previous year’s figures. Rheinmetall generated total sales of €962 million, which equates to a decline of 13% on the first quarter of 2012 (€1,109 million).
In addition to the considerably lower sales, increased development costs in Automotive and uncovered cost structures and an altered product mix in Defence resulted in an operating loss (EBIT before restructuring costs) of €14 million. Including the expenses recorded for restructuring measures of €5 million, the consolidated loss before interest and taxes (EBIT) is €19 million, down €62 million year on year.
