Rheinmetall's Order Book Expands on Two Fronts as Arson Probe and Sector Jitters Weigh on Shares
Published on 11/01/2026 at 12:01 | Editorial boerse-global.de
Rheinmetall shares shed 2.0% on Friday, closing at EUR 1,032.60, as unease over prospective Ukraine negotiations in Abu Dhabi rippled through the German defence sector. Media reports pointed to the November talks as the source of investor nervousness, with no company-specific announcement behind the industry-wide move.
Caracal Handover and a Fresh Schakal Order
The defence contractor had plenty of operational news to report the same day. Rheinmetall said the first series-production Caracal vehicles were handed over to the German and Dutch armed forces on Thursday in Ede, with more than 1,500 units slated for delivery by 2030.
Separately, OCCAR commissioned Artec GmbH with an additional 69 Schakal wheeled infantry fighting vehicles — 35 destined for the Bundeswehr and 34 for the Dutch forces. Delivery is planned between May 2032 and November 2033, lifting the total number of vehicles ordered to 291.
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Kassel Arson Investigation Underway
Attention also turned to a suspected arson attack at a Rheinmetall construction site at Kassel-Calden airport. Three construction vehicles burned in the night to Friday and other machinery was damaged, according to dpa-AFX. Police were examining a purported claim of responsibility posted online, while Tagesschau reported that the state security service was also investigating. Authorities suspected arson, though no confirmed cause has been announced.
Telford Gun Hall Opens, Euronaval Ahead
On the production side, Rheinmetall opened its "UK Gun Hall" in Telford on 22 October, a facility the company says is dedicated to the independent manufacture of large-calibre weapons in the UK. Rheinmetall also announced it will showcase its naval portfolio at Euronaval, running from 3 to 6 November 2026, including the Kraken K3 drone, the Millennium Gun naval cannon and the MASS decoy system.
Analysts Trim Targets, Company Pushes Back
Deutsche Bank Research cut its price target for Rheinmetall on Tuesday to EUR 1,650 from EUR 1,800, keeping its "Buy" rating intact — meaning the lower target came without a change in investment verdict. Rheinmetall, meanwhile, rejected criticism of delays in Bundeswehr projects, telling dts that the customer's decision more than a month ago to opt for a not-yet-completed B0 driving module was the main reason for the Skyranger holdup.
Investors now have a fixed date for the next set of numbers: Rheinmetall's financial calendar has the third-quarter 2026 report scheduled for 5 November 2026.
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