$RHM (+0 %) Where else do they want to go? I can imagine that if there is "peace" in Ukraine, the course will lose a lot of ground.

The only support would be the rearmament of the Bundeswehr and agreements with France, for example.

UBS raises target for Rheinmetall to 2200 euros and 'Buy' + Okta increases non-GAAP net income and sales + Aroundtown benefits from higher rent

UBS raises target for Rheinmetall $RHM (+0 %)to 2200 euros - 'Buy'

• The major Swiss bank UBS has raised its target price for Rheinmetall from 1840 to 2200 euros and left its rating at "Buy".
• Unlisted defense companies are an important backbone of the industry, but in theory they also cause capacity bottlenecks due to more difficult access to financing, wrote Sven Weier on Wednesday in the run-up to the NATO summit.
• However, he does not see any problems for Rheinmetall.
• The company is financially strong enough to support its suppliers.
• In view of the NATO summit, Weier believes that a 3.5 percent investment target of economic output for armaments is still fully priced into Rheinmetall shares.
• He raised his sales estimates once again.

Okta $OKTA (-3,12 %)increases non-GAAP net profit and sales

• Okta late Tuesday reported first-quarter non-GAAP net income of $0.86 per diluted share, up from $0.65 a year earlier.
• Analysts polled by FactSet had expected $0.77.
• Revenue for the quarter ended April 30 was $688 million, up from $617 million a year earlier.
• Analysts had expected 680.3 million US dollars.
• For the second quarter, the company expects non-GAAP earnings per share of $0.83 to $0.84 on sales of $710 million to $712 million.
• Analysts are forecasting USD 0.79 and USD 708.8 million.
• For the 2026 financial year, the company raised its EPS forecast from USD 3.15 to USD 3.20 to USD 3.23 to USD 3.28.
• The revenue forecast for the financial year remains at USD 2.85 to 2.86 billion.
• Analysts surveyed by FactSet expect earnings per share of 3.2 US dollars on sales of 2.86 billion US dollars.
• Okta shares fell 11% in after-hours trading.

Aroundtown $AT1 (-1,27 %)benefits from higher rent

• The commercial real estate specialist Aroundtown benefited from rising rents in the first quarter.
• Net rental income climbed by one percent to 295 million euros despite the sale of properties, as the MDax group announced on Wednesday.
• On a comparable basis, rents increased by 3 percent.
• At 76.3 million euros, the operating profit (FFO1) remained at the previous year's level.
• In addition to the lower number of properties, the perpetual bonds also had a negative impact here.
• For the current year, the real estate group is still aiming for a further decline in operating profit (FFO1) and is forecasting between EUR 280 million and EUR 310 million.
• At the bottom line, profit amounted to just under 319 million euros, mainly due to positive valuation effects, compared to 102 million euros in the same period of the previous year.
• Meanwhile, the company once again does not intend to pay a dividend for the past year.

Wednesday: Stock market dates, economic data, quarterly figures

Stock exchange trading in Sweden shortened (until 1 p.m.)

• ex-dividend of individual stocks
• Daimler Truck Holding AG € 1.90
• Bechtle AG € 0.70
• Hensoldt AG € 0.50
• SMA Solar Technology AG € 0.50
• KION GROUP AG € 0.82
• Deutsche Beteiligungs AG € 1.25
• Krones AG € 2.60
• Indus Holding AG € 1.20
• ABO Energy GmbH & Co KGaA € 0.65
• OHB SE € 0.60

• Quarterly figures / company dates USA / Asia
• 22:00 Nvidia | Salesforce Quarterly figures
• 22:30 HP Inc Quarterly figures

• Quarterly figures / Company dates Europe
• 06:50 Aroundtown Quarterly figures
• 07:30 Heidelberg Materials Capital Markets Day
• 10:00 Evonik Industries | Prosiebensat1 | Secunet Security AGM
• 10:30 Klöckner & Co AGM
• 11:00 Teamviewer AGM

• Economic data

08:00 DE: Import/Export Prices April Import Prices PROGNOSE: -1.2% yoy/+0.2% yoy previous: -1.0% yoy/+2.1% yoy | Employment April

08:45 FR: Private consumption April FORECAST: +0.3% yoy previous: -1.0% yoy | GDP (2nd release) 1Q

09:00 DE: Economic Barometer of the DIW - German Institute for Economic Research May

09:55 DE: Labor market data May seasonally adjusted unemployment rate FORECAST: +14,000 yoy previous: +4,000 yoy Unemployment rate seasonally adjusted FORECAST: 6.3% previous: 6.3%

10:00 EU: ECB, May consumer survey results

20:00 US: Fed, minutes of the FOMC meeting

Russia could be equipped for an attack on NATO territory in just a few years. Rheinmetall warns that the local armed forces could run out of fuel in this case. The Group sees a solution in synthetic fuels.

$RHM (+0 %) Rheinmetall is considering entering the production of e-fuels on a large scale, as reported by the Handelsblatt newspaper. According to NATO studies, Russia will be ready to wage a major war in Europe within the next five years, stressed Shena Britzen, head of the armaments group's hydrogen program, at an event held by the newspaper. "We therefore have a maximum of five years to be able to provide a secure fuel supply." In the event of a major war or crisis, Europe does not yet have a solution for supplying its armed forces with fuel.

Synthetic fuels, also known as e-fuels, can be obtained from renewable energies. However, climate protection is not the driver for Rheinmetall. "We are not doing this because we are focusing on green fuel, but because the energy can be made available," said Britzen. Green fuel can be produced regionally independently of the power grid and oil market and can supply troops in action.

According to Britzen, 20.5 million tons of fuel would be needed annually in the event of a war. According to her, Rheinmetall could supply this with the help of hundreds of production plants spread across Europe. "Our plants turn wind and sun into drop-in fuel that can be immediately refueled into the systems in the form of kerosene, diesel or marine diesel." This fuel could be used in conventional engines. Hydrogen is produced for this purpose, which is then processed into fuel.

The state as a customer?

Rheinmetall sees security of supply as an element of deterrence - and that is cheaper than a war. A positive side effect would be a significant reduction in CO2 emissions by the military.

So far, e-fuels have been a niche product because they are expensive and difficult to produce in large quantities. Rheinmetall is hoping for government orders. If the fuel is not needed in the end, the state could sell it on to airlines, for example, the defense company advertises. It is still a vision, but according to Britzen, talks are already underway with countries such as Switzerland, Austria, Italy and Spain. Initial talks were held with the German Federal Ministry of Defense last year. Now Rheinmetall is hoping for the new German government.

Good evening everyone, as I won't be here much tomorrow, I've decided to send you the second part today. I'm devoting myself to one of my favorite, but generally not very widespread species of derivatives, namely the Inline OS. There is no long or short here, as they are suitable for sideways phases.

With inline OSs such as the one shown here, there is a range within which the underlying must move over the entire term. If the upper or lower limit is breached, the bond expires worthless. However, if it remains within the range for the entire term, the bill is always redeemed at € 10 at the end. The bill below is based on the €/SFR rate (0.92/0.97) and runs until June 5, i.e. 2 weeks. I bought it at €1.90 when it was quite close to the lower limit. I mostly trade currency pairs or oil with these bills. Stocks also work, but I would only take large stocks. At the moment I have one on $BNTX (-4 %) and on $RHM (+0 %) . Smaller, more market-oriented stocks can easily be pushed over the barrier by the issuer if they are close to one of the limits. That's why I stay away from them.

So the topic is relatively easy to deal with. Nevertheless, I hope it has been informative for you. If you have any questions about this very interesting product, please feel free to ask.

I wish you all a pleasant evening.

I pulled out the profit today after setting myself a target of €1500. The rest continues in advance.

Subscribe to the podcast so that GTA VI is not delayed again.

00:00:00 GTA VI, PS5, XBox

00:08:00 Moody's USA rating

00:16:50 UnitedHealth, Euro Stoxx 600 Insurance ETF A0H08K

00:38:45 Coinbase, Bitcoin

01:00:00 Nu Holding

01:08:20 Take Two Interactive

01:18:55 Rheinmetall

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Düsseldorf - The share price has risen by more than 2000 percent since 2020, but CEO Papperger believes there are still opportunities ahead. Even if there were peace in Ukraine, the EU member states would still rearm massively out of concern for Putin.

Although Rheinmetall's share price has risen by around 2,400 percent since 2020, CEO Armin Papperger sees room for improvement. "We believe that we still have considerable potential," he said at the virtual Annual General Meeting on Tuesday. Although the Management Board hopes that there will be a ceasefire or peace in Ukraine, it can be assumed that even then the EU countries and comparable states will place a very high volume of orders for weapons systems. He rejected the proposal by the shareholders' association DSW to split the share, which is listed at a price of almost 1,600 euros, into several shares so that small shareholders could get in more easily: "We are not currently looking at a share split. However, banks do offer the option of buying only parts of a share.

The shareholder representatives praised the development of the company and the share price. "The development is sensational," said Andreas Massek from the Schutzgemeinschaft der Kleinaktionäre (SdK). "We are looking at an impressive increase in turnover, margin and stock market value," said Roland Klose from the Deutsche Schutzvereinigung für Wertpaierbesitz (DSW). He praised the fact that Papperger had organized the Group in such a way that it could also ensure "short-term delivery readiness for the necessary defence investments".

In his presentation, the CEO showed how great future growth from defense projects can be, while also saying that Rheinmetall might sell the civilian division. However, the plants that are being converted for the production of military equipment, such as in Berlin or one in Neuss for future reconnaissance satellites, would not be sold. With regard to the other plants, he says: "We will do everything in our power to give our employees a good future."

For the military sector, the CEO explained exactly why he expects huge growth. If the European NATO states spend 3.5 percent of their economic output on defense in the future, as is often discussed, 700 to 1000 billion euros would be spent on armaments across Europe each year. "On this basis, we see a potential for Rheinmetall of between 300 and 400 billion euros by 2030," he said. Last year, Rheinmetall generated sales of 9.8 billion euros; the target for 2027 is around 20 billion euros, with an operating margin of 18 percent. In 2024, it was already a very good figure at 15.2 percent.

Papperger made it clear that the Group serves politics: "Security is not everything, but without security, everything is nothing." Many experts feared that Russia could launch a new attack in five to eight years' time. Russia wants to have around 1.5 million active soldiers by 2029, more than all NATO states in the EU (around 1.3 million). Papperger added: "According to its own figures, Russia currently produces 1,500 battle tanks every year - as many as the five strongest NATO nations have together. In 2029, four years from now, the European NATO states must be in a position to fend off a possible Russian attack on NATO territory."

Barbara Happe from the umbrella organization of critical shareholders asked whether it was a good thing that Rheinmetall cooperates a lot with Hungary, even though Hungarian Prime Minister Orban has a certain closeness to Putin and is putting the brakes on aid to Ukraine. The Executive Board, however, pointed out that Hungary was a member of both NATO and the EU.

Those familiar with the Group suspect that Rheinmetall has launched relatively important projects with Hungary because a number of other NATO countries such as the UK and France each have a very strong defense industry of their own - so Hungary was and is all the more open to projects. Rheinmetall, in turn, was particularly pleased with the partner.

However, Armin Papperger is now in the process of establishing a number of other collaborations and foreign activities, including in Italy and the USA. "We are one of the fastest growing defense companies in the world and are on our way to becoming a global champion. With an investment volume of around eight billion euros in the last two years, we have driven this process forward," said Papperger.

(rky / gw)

https://rp-online.de/wirtschaft/rheinmetall-konzernchef-papperger-sieht-erhebliches-potenzial_aid-127311683

$RHM (+0 %)
$LMT (+1,84 %)

The Düsseldorf-based arms manufacturer Rheinmetall is planning to set up a joint venture with the US company Lockheed Martin for the large-scale production of warheads and missiles, including armaments for the Patriot air defense system, in Europe. As Rheinmetall CEO Armin Papperger explained in a conference call with analysts last week, talks are currently underway to establish the joint venture, in which his company is aiming for a 60 percent stake.

The background to this is that the production capacities in the USA are not sufficient to cover demand in Europe, said Papperger. "Sometimes you have to wait ten years to get missiles from America, which is far too long." The two partners therefore wanted to establish a European "Center of Competence" for missiles.

For example, the ATACMS, GMLRS, Hellfire, JAGM and PAC-3 missiles could be produced jointly. ATACMS missiles have a range of around 300 kilometers, while GMLRS have a range of 150 kilometers, according to Papperger. The Hellfire and JAGM are air-to-ground weapons, while the PAC-3 is one of the two missiles used for the Patriot air defense system.

The Rheinmetall CEO announced his intention to build up a production capacity of up to 10,000 missiles and the same number of large and small rocket engines per year. The aim is to achieve comprehensive vertical integration.

The Rheinmetall boss estimates that the production line will be ready in 12 to 13 months. Final production will also take place there. Development work will be carried out together with Lockheed Martin, so that IPRs will also be located in Europe. However, the project requires the approval of the US government, which both partners are working on. Papperger expects that after the start of engine production next year and rocket production in 2027, the years 2028 and 2029 will be characterized by the ramp-up phase. After that, there is a sales potential of 5 billion euros if the joint venture's production is fully booked. Rheinmetall is endeavoring to supply as many components as possible to the joint venture.

Lockheed Martin is currently ending the production of ATACMS because the PrSM is being manufactured. It is therefore under discussion to process US contracts in the new factory and thus generate the first one to two billion euros in sales. The plan is to take over the assembly lines for ATACMS directly from the USA, explained Papperger. He predicted that the capacities for the new engine production should be utilized quickly, as Ukraine has a high demand for Patriot missiles.

The Rheinmetall boss put the current demand for missiles at 600 to 800 ATACMS per year, around 2,500 GMLRs, 5,000 Hellfires, 5,200 JAGMs and 250 to 300 PAC-3s.

According to him, the supply chains are currently being set up for production. The idea for this was developed by Lockheed Martin's CEO and himself during the Munich Security Conference. The idea was to give the manufacturers of electronic components a five-year contract and a large down payment.

According to Papperger, European customers have a preference for ATACMS with a range of up to 300 kilometers over the GMLRS with up to 150 kilometers. Long ranges are preferred. In Germany, 500 or 600 kilometers are also being discussed. Ranges that are currently only offered by the PrSM.

When asked about the possible establishment of a Missile Excellence Center, the US arms manufacturer Lockheed Martin stated that the company was working with its European allies to identify opportunities for cooperation in order to meet the global demand for US ammunition and precision strike capabilities.

They want to ensure that any potential collaboration strengthens U.S. manufacturing capabilities, creates jobs in the U.S. and Europe, and accelerates the delivery of these goods. "Any collaboration between our companies is subject to the approval of the U.S. and German governments," Lockheed Martin emphasized. As negotiations are still ongoing, all details communicated are premature and unofficial.

Lars Hoffmann

https://www.hartpunkt.de/rheinmetall-will-im-joint-venture-auch-flugkoerperbewaffnung-von-lockheed-martin-fuer-patriot-produzieren/

$RHM (+0 %)

The German armaments group Rheinmetall has developed a new type of charging curb for electric cars. In a one-year pilot project in Cologne, over 2800 successful charging processes were achieved with a technical availability of over 99%. The charging curb proved to be reliable in various weather conditions and transferred an average of 19 kWh per charging process, which is sufficient for a range of around 120 kilometers. Users gave the system an average score of 4.38 out of 5, with particular praise for its ease of use and unobtrusive design. Compared to conventional charging points, the charging curb offers advantages such as a smaller footprint, better protection against vandalism and fewer tripping hazards.

https://www.focus.de/auto/elektroauto/deutscher-ruestungsgigant-zeigt-ueberraschende-loesung-fuer-ladeproblem-bei-e-autos_87418e6a-29a5-467f-b9a7-9b54eef5feeb.html