BELFAST — German manufacturer Rheinmetall reported strong sales of €1.9 billion ($2.2 billion) for Q1 2026, an eight percent year-on-year uplift, and, for the first time, the firm also shared figures for its naval systems division after its recent expansion into the maritime market.
“The technology group’s order books remain at record levels,” said the Dusseldorf-based firm in a Thursday statement announcing the quarterly results. It also predicted “significant growth acceleration” for Q2 in anticipation of “large-volume” naval and automotive-based orders.
After expanding into the maritime domain by completing the acquisition of local shipbuilder Naval Vessels Luerssen (NVL), Rheinmetall said that the company’s new naval systems department has recorded an order backlog of €5.5 billion. It noted, however, that because of “the initial consolidation at the end of February, the quarterly figures only include one month of [naval system] operations.”
Upon formally closing on the NVL takeover, Rheinmetall stated it planned on developing and producing “state-of-the-art navy and coastguard vessels, as well as maritime autonomous surface systems.” Both sides agreed not to disclose the value of the purchase.
Prior to selling, NVL was in the process of delivering a German Navy order for three new Type 424 intelligence ships to replace OSTE-class vessels.
For the month of March this year, Rheinmetall’s naval systems business drew sales of €77 million, largely from new-build surface ship programs, according to the company statement.
The manufacturer said that Germany’s fleet service vessel (FDB424) and the Bulgarian Multi-Purpose Modular Patrol Vessel (MMPV 90) “made significant contributions” to the sales figure.
Regarding company revenues by division, air defense saw a 43 percent jump to reach €192 million, followed by a 16 percent increase for digital systems — €349 million total. Completing the trio, tracked and wheeled vehicles accounted for €985 million — a marginal spike of 3 percent.
Annual guidance also remains unchanged, with group sales forecast to reach between €14 and €14.5 billion, up from €9.9 billion in 2025.
