Rheinmetall CEO after frigate flop: Naval divison was "the right decision"

German defence giant reiterates ambitions in the naval market despite losing the F126 frigate programme

By Kevin Landor Laursen

August 6, 2026 4:41 PM

The cancellation of Germany's F126 frigate programme has cost Rheinmetall EUR 300m in expected 2026 revenue.

But CEO Armin Papperger insists the setback has not changed the company's long-term ambitions in the naval market. Speaking during Rheinmetall's H1 2026 investor call on Thursday, he said the company remains fully committed to its naval strategy:

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