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Rheinmetall’s stock has soared over 1,000%, and the German defense giant sees growth ‘that we have never experienced before’
- German defense contractor Rheinmetall’s stock price has skyrocketed more than 1,000% since Russia invaded Ukraine in 2022. As the EU plans a €800 billion boost in defense spending, Rheinmetall expects growth to remain strong.
German defense contractor Rheinmetall sees unprecedented gains ahead as Europe embarks on a massive military buildup, even after reporting already-strong growth.
Headquartered in Düsseldorf, Germany, the company reported 2024 total revenue of €9.8 billion on Wednesday, up 36% from 2023. The defense business led the company’s sales growth last year, surging 50% to €7.6 billion. Additionally, the backlog increased 44% to €55 billion a new record high.
Last year’s growth was helped by Europe’s continued military aid for Ukraine. Since Russia invaded Ukraine in 2022, Rheinmetall’s stock price has climbed more than 1,000%.
Meanwhile, the European Union recently announced plans to increase its defense spending by €800 billion ($867 billion) as historic US allies seek to take more responsibility for their security.
“An era of rearmament has begun in Europe that will demand a lot from all of us,” CEO Armin Papperger said in a statement. “However, it also brings us at Rheinmetall growth prospects for the coming years that we have never experienced before.”
For this year, Rheinmetall expects total sales to increase 25%-30% and defense sales to climb 35%-40%. While those numbers would fall short of 2024’s, actual sales by the end of the year could turn out to be even bigger.
Rheinmetall noted in its report the outlook does not take into account “geopolitical developments in recent weeks,” saying updates to its forecasts could come later as requirements of its military customers become clearer.
“With a 50% sales growth in the defence business, Rheinmetall is on its way from being a European systems supplier to a global champion,” Papperger said.
In recent years, the European leader in munition production invested nearly €8 billion in new manufacturing facilities, acquisitions, and supply-chain security. In January, Rheinmetall announced it acquired a majority share in a Bavarian software developer that specializes in digitizing warfare.
In addition to manufacturing missiles and bombs, Rheinmetall also makes tanks, air-defense systems, and autonomous ground vehicles. Most notably, it produces the Panther KF51 main battle tank. A major supplier to Ukraine, Rheinmetall has plants in the war-torn country along with Lithuania, Hungary, and Romania.
Additionally, the company looks to continue its growth in Germany and is reportedly interested in a Volkswagen plant in Osnabrük.
On Wednesday, Papperger said the facility would be “very suitable” for the company’s expansion plans and would be more affordable than building a factory from the ground up.
Papperger cautioned that while there was no concept for Rheinmetall to move onto Volkswagen’s turf, things could still move quickly.
“One thing is clear: before I’ll build a new tank factory in Germany, we’ll of course take a look at it,” he said.
This story was originally featured on Fortune.com
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‘Ted Lasso’ will be returning for a 4th season after all. Here’s everything we know.
Jason Sudeikis and Hannah Waddingham star in Apple TV+’s “Ted Lasso.” Apple TV+
- Apple TV+ has officially renewed “Ted Lasso” for a fourth season.
- The show’s future was uncertain after the season three finale, which aired in 2023.
- Jason Sudeikis will return to the show. The rest of the cast has yet to be announced.
It’s been almost two years since the season three finale of “Ted Lasso” aired.
But AFC Richmond fans now have a reason to celebrate once again, as Apple TV+ announced earlier this week that the Emmy-winning comedy will be back for a fourth season, with star Jason Sudeikis returning in the titular role.
“‘Ted Lasso’ has been nothing short of a juggernaut, inspiring a passionate fanbase all over the world, and delivering endless joy and laughter, all while spreading kindness, compassion and unwavering belief,” Matt Cherniss, head of programming for Apple TV+, said in a statement announcing the show’s return. “Everyone at Apple is thrilled to be continuing our collaboration with Jason and the brilliant creative minds behind this show.”
Here’s everything we know about the upcoming series.
Right now, only one returning cast member has been confirmed
Jason Sudeikis as Ted Lasso on season three of “Ted Lasso.” Apple TV+
Sudeikis, who also serves as an executive producer on the show, shared a rather Lasso-like statement while confirming his return.
“We all continue to live in a world where so many factors have conditioned us to ‘look before we leap,” Sudeikis said in a press release. “In Season 4, the folks at AFC Richmond learn to leap before they look, discovering that wherever they land, it’s exactly where they’re meant to be.”
Brendan Hunt and Brett Goldstein will return as executive producers — with Goldstein also continuing to serve as a cowriter on the series — but it’s not been confirmed whether they will also be back as cast members Beard and Roy Kent.
It’s also not known whether the rest of the show’s beloved ensemble, which includes Hannah Waddingham, Juno Temple, Nick Mohammed, and Phil Dunster, will reprise their roles.
However, one addition has been announced to the creative team. Jack Burditt, a TV producer who worked on the Netflix hit “Nobody Wants This,” will join as an executive producer as part of a new overall deal with Apple TV+.
Season four will shift focus to a women’s football team, Sudeikis has said
Sudeikis spoke about the new season on an episode of the “New Heights” podcast — hosted by former Philadelphia Eagles star Jason Kelce and his brother, Kansas City Chiefs tight end Travis Kelce — on Friday.
“We’re writing season four now,” Sudeikis said. “That’s the official word. Ted’s coaching a women’s team.”
Ted Lasso is BACK for Season 4 … and he’s got a new team New episode with Jason Sudeikis!! Video drops 9:30amET on YouTubeListen early NOW on Wondery+ pic.twitter.com/XxeZ4YomBw
— New Heights (@newheightshow) March 14, 2025
When pushed for more details, including whether the new season would see his character come back to the US, Sudeikis said: “That’s too many questions,” adding: “I don’t know.”
The season three finale saw Ted return home to Kansas
“Ted Lasso,” which debuted in 2020, became one of AppleTV+’s most-streamed shows over its initial three-season run.
The season three finale — which many believed was the closing chapter — aired in May 2023. While it was not officially billed as a show finale, it wrapped up many major storylines and saw Ted return home to Kansas to be closer to his son (Gus Turner).
Apple TV+ has not yet announced a premiere date for the new season and did not respond to a request for comment from Business Insider.
Read the original article on Business Insider -
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