Q1 2024 Rheinmetall AG Earnings Call Transcript

May 15, 2024

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May 14, 2024 / 06:30AM GMT
Operator

Hello, ladies and gentlemen, and welcome to the Q1 results call 2024 of Rheinmetall AG. (Operator Instructions) Let me now turn the floor over to Dagmar Steinert, CFO of Rheinmetall.

Dagmar Steinert - Rheinmetall AG - Member of the Executive Board & CFO

Thank you for the kind introduction. Good morning, everyone, and welcome to Rheinmetall's Q1 '24 Conference Call. Before I start on Page 3, I would kindly remind you of 2 things. First, as we are hosting our virtual AGM later this morning, we have a hard stop at 9:15. I will try to be brief so that I have time to answer your questions in the Q&A. Second, please be reminded of our legal disclaimer on the second page.

Let us now move to Page 3, please. The first quarter marks an excellent start to the year and was characterized by double-digit top line growth and a solid margin improvement. However, higher working capital and CapEx activities affected our operating free cash flow. As in previous years, I would like to remind you that we are expecting a heavy back-end loaded business. We didn't book

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