The armaments group Rheinmetall will be included in the leading German index Dax tomorrow. The Düsseldorf-based company replaces the dialysis specialist Fresenius Medical Care in the first German stock exchange league. FMC is relegated to the index of medium-sized stocks, the MDax.
Value thanks Ukraine war doubled
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.
Rheinmetall expects even faster growth in 2023 due to higher demand as a result of the Ukraine war. “With our products we want to participate in increasing budgets for military capabilities,” said company boss Armin Papperger in Düsseldorf on Thursday.
Rheinmetall employed an average of 24,800 people last year, around 1,100 more than in the previous year. Papperger expects to add another 3,000 this year.