The armaments group and automotive supplier Rheinmetall felt the effects of the corona crisis in the first quarter. While the MDax group increased sales slightly by 1.1 percent to around 1.36 billion euros, the operating result fell37 percentto 34 million euros, as announced on Friday in Düsseldorf. The bottom line broke the excess around45 percentto 18 million euros.
In the first quarter, Rheinmetall clearly increased its revenues and operating profit in the still booming armaments business. However, this could not compensate for the significant declines in the auto supply that was already weakening before the virus crisis. Rheinmetall confirmed the annual forecast for its armaments division, but a forecast for the automotive division is still due to the high level of uncertaintynot possible, it was said. (dpa / swi)
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