The armaments group and automotive supplier Rheinmetall received orders for large quantities of ammunition in the first quarter.

Group-wide sales of almost 1.27 billion euros were practically as high as a year earlier, as the MDax-listed company announced on Friday in Düsseldorf.

In the weapon systems and ammunition business, however, revenue jumped by 17 percent to EUR 258 ​​million.

In addition, the division brought in orders for almost 1.15 billion euros - more than ever before.

According to the information, a “large-volume ammunition order” from Hungary made a particular contribution to this.

For the coming months, Rheinmetall boss Armin Papperger also expects significant growth throughout the group.

For the year as a whole, group sales should continue to increase by 15 to 20 percent compared to 2021 - if the federal government implements its plans to upgrade the Bundeswehr.

More than eleven percent of the annual turnover should then remain as an operating profit at Rheinmetall.

In the first quarter, that margin was just 7.3 percent, even though operating profit rose nearly 10 percent year-on-year to 92 million euros.

The Rheinmetall shareholders accounted for a surplus of 48 million euros, a million less than a year earlier.