Slump in call orders from automotive customers downscales Rheinmetall's profit forecast by some 10%
As a consequence of worldwide plummeting call orders by automotive customers in Q4/2008, Rheinmetall AG no longer expects its Automotive sector to be in line with its sales and EBIT forecasts for 2008.
From today's point of view, Rheinmetall AG looks for its Automotive sector to an EBIT of around €80 million, its Defence sector's being predicted to equal or exceed €180 million. For the Rheinmetall Group's consolidated earnings, this means an EBIT between €250 million and €260 million (previous forecasts: €280–290 million).
The Group's provisional EBIT for the 9 months (3Q) ended September 30, 2008, ranges around the year-earlier level. Detailed financial information will be presented in the 3-quarter financial report published November 5, 2008.
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