New naval business begins to pay off for Rheinmetall, eyes stronger Q2

On Monday, the company said it had missed analysts' first-quarter revenue expectations in a pre-release, but confirmed its full-year sales targets citing an expected upswing in the second quarter from production at its site in Spain and an expected delivery to the German army.

Supporting those expectations are the integration of the Naval Systems segment, which brings with it existing projects worth €5.5 billion, said Rheinmetall on Thursday.

(Reporting by Miranda Murray, Editing by Friederike Heine)