According to the company's statement yesterday, the operating profit jumped to EUR 271 million (HUF 106.4 billion), better than expected, after revenue increased by about half.

Rheinmetall is among European arms makers whose sales have soared amid growing Russian military threats and doubts over the United States' commitment to NATO.

Rheinmetall has an armored vehicle factory in Zalaegerszeg (215 km southeast of Budapest by road), a munitions factory in Várpalota (85 km to the southwest), a digitalization center in Budapest established with Hungarian ICT company 4iG, and laid the cornerstone of a plant in Szeged (170 km southeast of the capital) in March.