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Rheinmetall Revenue Jumps as Shares Drop Amid German Ammunition Cut Debate

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Rheinmetall reported first-half 2026 revenue up 39% to €5.23bn and operating profit up 74% to €786m, lifting margin to 15.0%. The order backlog rose to €80.5bn, but shares reversed after a small rise, falling 3.3% on Wednesday to €1,015.40. In Berlin, politicians weigh possible German ammunition cuts from 2027, as the firm restarts 120mm cannon production for Leopard tanks in Spain with deliveries in 2026-2027.

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