The armaments and technology group Rheinmetall has been part of Germany's leading DAX index 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 M-Dax. Rheinmetall shares gained 2.6 percent to 243 euros in the course of trading. The Dax lost 0.4 percent to 14,704 points. Fresenius Medical Care, on the other hand, fell 1.4 percent. The M-Dax small-cap index fell by 0.9 percent to 26,209 points.
Rheinmetall is Germany's largest armaments company. In military vehicles and in the ammunition business, the company claims to be one of the three largest manufacturers in the Western world. Rheinmetall currently has a market capitalization of around €10.4 billion. Since Russia's invasion of Ukraine just over a year ago, the stock's share price has more than doubled. In its civilian-oriented divisions, Rheinmetall is a supplier to the automotive industry, among other things.
"We are pleased that not only the capital markets attach significant importance to us," said Rheinmetall CEO Armin Papperger, according to a statement. Large parts of society also see the need to equip the armed forces quickly and reliably with modern equipment and armament. Rheinmetall sees itself as part of national and European security precautions.
Rheinmetall employed an annual average of 24,800 people last year, around 1100 more than in the previous year. Papperger expects another 3000,<> to be added this year.
The company, founded in 1889, has 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 M-Dax. Since then, it has been listed in this stock index without interruption.