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Shares of Germany's Rheinmetall rose on Tuesday after the defense giant told investors to expect sales to quintuple over the next five years, boosted by robust demand for its weapons systems amid geopolitical tensions and the war in Ukraine.

The company forecast sales of about 50 billion euros ($58 billion) by 2030, up from about 10 billion euros in 2024. The bulk of 2030 sales will come from its vehicle systems and weapons and ammunitions businesses, Rheinmetall said. It sees operating margin expanding to about 20%, up from 15.2% in 2024.

Shares rose 3% to 1,775 euros by midday Tuesday, topping the German blue-chip DAX index which was almost entirely in the red.

Rheinmetall, like many other

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