Rheinmetall plans to nearly double its revenue to around 20 billion euros by 2027 and achieve an operating profit margin of about 18 percent.

Rheinmetall significantly upgrades its previous plans with the new objective. Previously, the company had projected sales of 13 to 14 billion euros by 2026 and an operating margin of over 15 percent. The company particularly benefited from advances in profitability and booming demand for defense technology.

For the current year, Rheinmetall expects an operating margin at the upper end of the forecast range of 14 to 15 percent. Revenue is expected to be 10 billion euros in 2024 as planned. Investors had already anticipated a significant increase in medium-term targets due to positive developments.

The growth ambitions of the group were well received by investors. On Tuesday, Rheinmetall's stock rose by 3.85 percent to 604.80 euros in XETRA trading and reached a new record high of 610.00 euros. Analysts view the new targets as a clear confirmation of the competitive strength and strategic direction of the Düsseldorf-based company.