The German federal government has cancelled the multi-billion euro F-126 frigate program. Following this decision, Düsseldorf-based defense company Rheinmetall lowered its revenue forecast for 2026.
In a presentation for analysts, Rheinmetall admitted that no short-term replacement for the F-126 program is in sight.
The company now expects its group revenue to increase to between 13.7 billion and 14.2 billion euros in 2026. This is a reduction from the previous revenue forecast of between 14 billion and 14.5 billion euros.
Rheinmetall's order backlog reached this threshold.
Recent financial performance
Despite the lowered forecast, Rheinmetall reported an increase in revenues of 69 percent to nearly 3.3 billion euros during the months of April to June. During the same period, the company's operating profit improved by almost one-fifth to 562 million euros.
Marine division developments
Rheinmetall's new marine division recorded total incoming orders of approximately one billion euros in the first half of the year. This division has secured orders from Romania.
