Illustration of a canceled naval frigate project impacting Rheinmetall's financial outlook, showing an abandoned ship in a shipyard and a concerned executive with a declining stock chart.
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Cancellation of frigate project F126 burdens Rheinmetall outlook

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Kiswahili

The German government has ended the F126 frigate project. This affects the defense company Rheinmetall's forecast for the second quarter.

The German government ended the project due to a cost explosion to nearly 18 billion euros and massive delays. Originally ten billion euros had been planned, Defense Minister Boris Pistorius said.

Rheinmetall said on Thursday that the target order volume of 20 billion euros in the second quarter would not be reached. Instead the total volume would reach a low double-digit billion-euro level.

The planned sales growth of over 60 percent in the quarter would likely be met. The company is examining further effects on the annual forecast and will provide an update on August 6. Possible sales effects in the current year could amount to up to 300 million euros.

Watu wanasema nini

Initial X reactions focus on Rheinmetall's sharp stock drop after Germany's F126 frigate cancellation, with reports of 15-19% declines and market cap losses. Some users highlight overreactions and view it as freeing resources for better projects. Others note analyst views that it's not wholly negative due to prior cost concerns. Positive takes emphasize buying the dip amid strong backlog and CEO purchases. Neutral analyses discuss alternatives like TKMS MEKO frigates and broader defense budget impacts.

Makala yanayohusiana

Illustration of stock exchanges affected by postponed KNDS IPO amid defense stock volatility, with flags and concerned executives.
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Imeripotiwa na AI Picha iliyoundwa na AI

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Defense Ministry plans to cancel F126 frigate project

The German Defense Ministry under Boris Pistorius is ending the F126 project for the Bundeswehr. Rheinmetall faces pressure after recently acquiring the naval unit NVL. Shares in the defense company fell more than 18 percent at times.

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