The armaments and technology group Rheinmetall has been part of the leading German index Dax since Monday. In the first German stock exchange league, the Düsseldorf-based company replaces the dialysis specialist Fresenius Medical Care, which has relegated the index of medium-sized stocks, the MDax.
Rheinmetall is Germany’s largest armaments company. According to its own statements, the company is one of the three largest manufacturers of military vehicles and ammunition in the western world. Rheinmetall currently has a market value of around 10.4 billion euros. The share price has more than doubled since the Russian invasion of Ukraine a year ago. In its civilian areas, Rheinmetall is a supplier to the automotive industry, among other things.
“We are pleased that not only the capital markets are giving us a significantly increased importance,” said Rheinmetall boss Armin Papperger according to a statement. Large sections of society also see the need to quickly and reliably equip the armed forces with modern equipment and armaments. Rheinmetall sees itself as part of national and European security precautions.
Rheinmetall employed 24,800 people on average last year, around 1,100 more than in the previous year. Papperger expects another 3,000 to join this year.
The company, which was founded in 1889, claims to have been listed on the stock exchange since 1894, when it was still called “Rheinische Metallwaaren- und Maschinenfabrik Actiengesellschaft”. In 1996, Rheinmetall was a founding member of the Mdax. Since then, the company has been listed in this stock index without interruption.
