At Rheinmetall Defence, the first nine months of the fiscal year were strongly marked by increasing internationalization and the targeted expansion of operations, for example through the joint venture launched with MAN Nutzfahrzeuge AG in May 2010 in the field of wheeled military vehicles.
Since July 2010, Norwegian Simrad Optronics AS, has been included in the Rheinmetall Group, which has expanded Rheinmetall’s range of services significantly, particularly in the rapidly growing market for weapon stations. The acquisition of South African company Laingsdale Engineering (Pty) Ltd., which will complement Rheinmetall’s technological portfolio for igniters, was announced in October 2010.
The takeover of Italian ammunition producer SEI SpA, which was agreed in March 2010, is expected to be concluded in the next few weeks.
The Defence corporate sector achieved sales of €1,264 million in the first nine months of 2010, which represented growth of €69 million or 6 %. In the current fiscal year, sales performance in the fourth quarter will significantly exceed the respective revenue figures for the first three quarters, owing to invoicing.
The Defence corporate sector achieved EBIT of €123 million in the period under review, a substantial year-on-year increase of €13 million or 12 %. After nine months, this corporate sector showed a further rise in the EBIT margin to 9.7 % (previous year: 9.2 %). With a strong order intake of €1,468 million in the first nine months of 2010 the order backlog increased to €4,884 million as at September 30, 2010, representing an increase of €199 million or 4 % on the figure for the corresponding period of the previous year.