Germany's Renk forecasts 2025 growth backed by 5 billion euro order book
The Augsburg-based company, which at the end of January reported preliminary full-year revenue in line with its guidance, said its order backlog was 5 billion euros ($5.39 billion) at the end of 2024.
Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here.
It forecast revenue of 1.3 billion euros for the year, in line with analysts' mean estimate in an LSEG poll and above last year's figure of 1.1 billion euros.
Like Rheinmetall (RHMG.DE), opens new tab two weeks ago, Renk also said the outlook did not take into account any further market potential from increased defence spending in the European Union.
A changed stance in Washington towards European defence and talks of historical investment in the EU have been boosting stocks in the sector, with Europe's benchmark defence and aerospace index (.SXPARO), opens new tab gaining more than 30% so far this year.
"I think the mid-term guidance will be more and more framed as cautious with some upside," said Christian Reindl, a portfolio manager at Union Investment which holds shares in Renk. The company maintained its target of 2 billion euros in revenue by 2028.
It also sees adjusted operating earnings of between 210 million and 235 million euros in 2025, while analysts polled by Vara were expecting 225 million euros on average.
"My assumption is that they progress better on the efficiencies of their production facilities in Germany and the U.S. and there might be some upside on the operating profit throughout the year," Reindl told Reuters.
Renk's shares, which were included in Germany's mid-cap equities index (.MDAXI), opens new tab earlier this month after doubling in value since January, fell 1% in early trading.
($1 = 0.9272 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
KKR in talks to buy ST Telemedia Global Data Centres, Bloomberg News reports
July 26 (Reuters) - KKR (KKR.N), opens new tab is in talks to buy ST Telemedia Global Data Centres in a deal that could value the Asian digital infrastructure provider at more than $5 billion, Bloomberg News reported on Saturday, citing people familiar with the matter. Reuters could not immediately verify the report.
Reuters
3 hours ago
- Reuters
Allianz Life says 'majority' of customers' personal data stolen in cyberattack, TechCrunch reports
July 26 (Reuters) - U.S. insurance giant Allianz Life said that hackers stole the personal information of the "majority" of its customers, financial professionals, and employees during a mid-July data breach, TechCrunch reported on Saturday. The report, citing a filing with Maine's attorney general, did not immediately provide the number of customers affected. Reuters could not immediately verify the report.
Metro
5 hours ago
- Metro
How football could produce wrestling's next big superstar
To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video A wrestling company famed for launching the careers of John Cena, Randy Orton and more is turning to UK sports to find the next great grappler. WWE legend Al Snow's Ohio Valley Wrestling (OVW), which was the subject of acclaimed Netflix docu-series Wrestlers, is launching a new initiative on our shores to discover sports entertainment's next superstar. The company is hoping to encourage footballers, rugby players and other athletes in the UK to chase a career in the ring, after stars from basketball, gymnastics, the NFL and more have made the transition in the US. Speaking exclusively to Metro, the 61-year-old star has a stark warning for anyone thinking it'll be an easy ride. 'It is far easier to be a player in the World Cup of the soccer team than it is to be on the main roster in WWE,' he insisted. 'Think of the number of players on the team. Think of the number of teams now, what are your odds? 'Think of the number of wrestlers that are on the main roster of WWE. Think of the number of people that wish to be in that place, and now think of the odds.' OVW was recently bought by UK-based sports agency Morley Sports Management (MSM), who also own Cymru Premier football club Haverfordwest County AFC, and they are looking to their take first UK intake of trainees from football and rugby in 2026. Rob Edwards, MSM founder and CEO, said: 'We absolutely know the talent is there in the UK – particularly in football – and the opportunities we OVW provide could give so many sports people another chance.' Anyone interested in training at the OVW Academy can apply here. They won't be the first, with former Werder Bremen goalkeeper Tim Wiese and rugby league player-turned-WWE superstar Ridge Holland among those to make the transition. Tim failed to make an impact, while Ridge has had a rollercoaster career – but he came in as a fan with 'respect for the business'. 'That goes a long way,' he told Metro in 2022. 'Athletes tend to have some form of ego… You've been a top athlete in your chosen sport, and then you've gotta start at the bottom. 'You've got to just humble yourself, put your nose to the grindstone and listen, work hard and take each day as it comes.' So, what can the athletes expect? 'At the very beginning, really focusing on the fundamentals, just like any actual sport,' the former WWE European Champion explained. 'I can't emphasise enough how much that plays a role in their development and their overall performance and their consistency, and their ability to mitigate the possibility to the injury.' Al knows all about the physical impact of a career in wrestling, having had both knees replaced a few years ago to deal with a brutal amount of pain. 'I wake up every day in pain,' he explained. '[Before the replacements] it was so severe that sometimes I would be exhausted by the middle of the day, and I'd have to lay down to just get some rest.' Not everyone will be able to hack it, as Al recalled working with a 'kickboxer, a multi-black belt in Taekwondo' who also did some 'cross country biking' and other disciplines. 'He lasted a week,' he said. 'I've dealt with this for ages. I've been training people on different levels and watched athletes come from other sports.' People coming from outside the business often have preconceptions, only to quickly realise the 'physical exertion and amount of commitment' it takes. 'A lot of them are like, 'You know what? That's it. I'm done,'' he shrugged. He also dismissed the idea anyone except the wrestler themselves can be blamed for a lack of success. 'Wrestlers make themselves a star. I know wrestlers would love to make you believe that it's someone else's fault for their own shortcomings,' he laughed. 'They're more than willing to take credit when it's their success.' What will Al really be looking for when they start recruiting from football and rugby? 'You don't have to look like a bodybuilder. You just need to look like you make your living in a competitive combat situation. That's it,' he said. 'I don't think that's asking for much.' There's also the mental side, with personality being almost more important that having the right look, charisma or skills. 'If you're a cancer and you're going to be a detriment, trust me, you're not worth it,' he said bluntly. Al knows his stuff, having worked with former WWE Champions Cody Rhodes and The Miz early in their wrestling journeys, with the latter coming to wrestling through reality TV. More Trending 'They did not make it easy on him in the locker room,' he recalled. 'Everything he's gotten he's earned.' That doesn't mean training with OVW, or even making it to the bright lights of WWE, will make everyone happy. There'll be more work to be done. 'There are number of my kids that are still in WWE that if I were to pick up the phone right now, all you'd hear is them complain for two hours on the phone,' he said. 'They think once they get there, the work stops, and then they're happy. No! 'Now, the pressure, the stress – the real work begins.' For more stories like this, check our sport page. Follow Metro Sport for the latest news on Facebook, Twitter and Instagram. MORE: Hulk Hogan's wife Sky Daily says she 'wasn't ready' for his death in heartbreaking tribute MORE: WWE star demonstrates how broken finger 'still won't bend from knuckle to tip' MORE: Hulk Hogan 'lost a lot of weight in final weeks before death'
