In the reporting year, incoming orders reached the high level of the previous year, forming a sound basis for the
following financial year.
Net sales increased significantly compared to the previous year. This development was largely driven by the start of the project for replacing the integrated military telecommunication system, growth in the “Protection” business as well as the sale of the Leopard 1 tanks from the inventory held in Italy.
The EBIT margin reached a very encouraging level of more than six percent. All business areas and main
subsidiaries met or exceeded their operating targets. On the one hand, this is attributable to the measures
introduced three years ago to recover the profitability of the business areas over the long term – in particular through the systematic processing of loss-making projects. On the other hand, the high extraordinary expenses from the years 2022 to 2024 were significantly reduced.
One strategically important project for the future is the final assembly of four F-35A fighter jets from manufacturer Lockheed Martin. The “RIGI” project is currently being coordinated with the supplier. The upfront costs incurred during the reporting year have been provided for accordingly. Furthermore, in RUAG’s investment portfolio, the second capacity increase of Nitrochemie AG was initiated.
Both liquidity and operating cash flow stabilized further. With a view to increasing strategic freedom, following
the adjustment of its owner’s targets in the second quarter of 2025, RUAG began setting up a sustainable financing structure. Implementation is planned starting the first quarter of 2026.
RUAG is once again aiming for an EBIT margin of at least five percent in 2026. This is an important prerequisite for financing the investments planned from 2026 onwards from its own resources.