German arms giant Rheinmetall has reported a surge in operating profit for the first nine months of 2025 and a record backlog of orders, citing the Ukraine conflict and growing EU defense budgets.
Company shares have nearly tripled over the past year on rising demand for military hardware. Rheinmetall produces a wide range of weapons supplied to Ukraine, including tanks, armored vehicles, artillery shells, and ammunition.
Sales jumped by 20% to €7.5 billion ($8.7 billion), while operating profit rose by 18% to €835 million, according to the Dusseldorf-based firm’s third-quarter results released on Thursday. Rheinmetall said its order backlog reached a record €64 billion.