Rheinmetall shares sink as Germany scraps F126 frigate project after €2.3bn spend
Rheinmetall shares fell sharply after Germany scrapped its F126 frigate programme. According to Euronews, the abandoned project has already cost taxpayers around €2.3bn.
Shares in defence group Rheinmetall fell sharply after Germany decided to scrap its F126 frigate programme. According to Euronews, the abandoned project has already cost taxpayers around €2.3bn.
The decision coincided with a broad sell-off in European defence stocks. Germany's reprioritising of defence spending has raised questions over the future of procurement programmes across the sector.
Analysts say the cancellation could weigh on companies' revenue expectations in the short term. How Berlin pivots to alternative shipbuilding plans, and how the costs are recouped, will be closely watched in the period ahead.
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