Rheinmetall posts strong Q2 earnings while Vonovia and Siltronic face valuation pressures

Rheinmetall AG reported a second‑quarter revenue of about €3.29 billion and an EBIT of €562 million, with its order backlog exceeding €80 billion. The preliminary results lifted the share price by roughly 1 % to €1,215.00 as investors responded to the better‑than‑expected performance.

Vonovia SE posted solid operational figures for the first half of the year, with rising rents and low vacancy rates, but its adjusted profit fell because high financing costs weighed on earnings. The stock slipped about 1.6 % to €21.29, reflecting market concerns over debt and interest‑rate pressures.

Siltronic AG saw its price target cut by Citi from €105 to €88, a reduction of €17, while the rating remained neutral. The share trades around €78.90, leaving an estimated upside of roughly 11.5 % based on the new target.

Analysts also noted a broader correction in European defence stocks, with companies such as Rheinmetall, Renk and Hensoldt experiencing price declines after a period of high valuations. Despite the pull‑back, order books remain robust, and the sector is shifting focus toward drone and air‑defence technologies.