{"text":[[{"start":8.88,"text":"Rheinmetall’s shares sank 17 per cent after the defence group cut its sales forecast for the second time this year amid delays to a €12bn megadeal to produce Boxer armoured vehicles for the German military."}],[{"start":21.8,"text":"The Düsseldorf-based tank and artillery maker was forced to reduce its revenue expectations for the full year, lowering consolidated sales to €13.2bn from a previous target of €13.7bn-€14.2bn."}],[{"start":37.52,"text":"The company said the so-called Arminius project to provide the Boxer vehicles, was still “in the final phase of negotiations and cannot be commissioned until next year”."}],[{"start":46.58,"text":"The delay is a fresh setback for Rheinmetall after a saga over six multibillion-euro frigates that it expected to build in a deal that was set to be worth €15bn. In August, the company lowered its sales forecast by €300mn after Berlin scrapped the project."}],[{"start":63.48,"text":"The sales target downgrade came as the group posted record operating profits of €1.3bn for the first nine months of 2026 as it continued to benefit from the surge in European defence spending. Sales grew 38 per cent to €8.4bn."}],[{"start":79.76,"text":"The Arminius deal is set to see Rheinmetall co-produce an initial tranche of roughly 1,800 Boxer vehicles together with the Franco-German tank maker KNDS, with the potential for thousands more."}],[{"start":91.28,"text":"Chief executive Armin Papperger told analysts in August that the programme would be worth at least €12.4bn for his company."}],[{"start":98.96,"text":"At the time, he said that a final decision from government officials was expected in September, with the deal approved by the German parliament in December, and an initial €3bn down payment due at the end of the year or in January."}],[{"start":112,"text":"The contract includes the option to order several more rounds of vehicles, bringing its maximum potential value for Rheinmetall to more than €38bn."}],[{"start":126.4,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1793871691_4528.mp3"}