The secret winners of the crisis and your portfolio booster: Rheinmetall, Antimony Resources, and TKMS

Rheinmetall – Systematic growth

The latest figures from the Düsseldorf-based defense group speak for themselves. In the first nine months, group sales rose by 20% to EUR 7.5 billion, while operating profit increased by 18% to EUR 835 million. The core military business is driving this development with an operating margin of 13.6%. However, investments in new capacities and delays in German contract awards after the election resulted in negative operating cash flow. Nevertheless, the order backlog of EUR 64 billion provides a solid cushion. Management confirms its annual forecast of 25-30% revenue growth.

Strategic initiatives in all domains are driving growth. A current example is a EUR 61 million order to modernize the German Armed Forces' combat training center. By 2028, the digital infrastructure will be upgraded to make exercises more realistic and easier to evaluate. At the same time, a joint venture with ICEYE is strengthening the Company's presence in space. SAR satellites are set to be manufactured in Neuss starting in 2026. These initiatives demonstrate how Rheinmetall is systematically expanding its technological leadership and opening up new business areas.

The Company recently demonstrated its operational effectiveness during NATO exercises in Portugal. There, unmanned ground systems such as the Mission Master proved themselves under real-world conditions and demonstrated their capabilities in complex scenarios. These successes in the field underscore the strategic direction. The combination of robust finances, a full order book, and the ability to translate innovative solutions into operational products positions Rheinmetall well for the continuing high demand in the defense sector. The share is currently available for EUR 1,707.50.

Antimony Resources – Strategically positioned in critical raw materials

With its Bald Hill project in Canada, Antimony Resources is focusing on the raw material antimony, which is becoming increasingly important in today's geopolitical situation. This semi-metal is indispensable for the defense industry. It is used in flame-retardant materials for soldiers' clothing, night vision devices, precision ammunition, and laser-based targeting technology. Without antimony, modern military technology would be virtually inconceivable. The problem is that the supply situation is tense. China dominates the market and has massively restricted its exports, which significantly enhances the value of deposits located outside this sphere of influence. Antimony Resources is therefore positioning itself as a potential future supplier to the North American market.

Concrete evidence of the deposit's potential followed on November 4 with the submission of the NI 43-101 technical report. This report not only doubled the estimated amount of antimony contained to 81,000 to 108,000 tons, but is also supported by excellent drilling results. For example, intercepts of up to 14.91% antimony over 3 m were recorded. The average grade across the approximately 2.7 million tons of material is 3-4%. The drilling program, which has been underway since mid-September and is already more than 50% complete, extends the mineralized zones to the north and south and confirms the positive development on site. These robust data underline the economic attractiveness of the deposit at a time of global scarcity. Particularly promising is the fact that the deposit remains open in all directions and at depth.

The recent listing on the US OTCQB market on November 19 underscores the Company's growth ambitions. This step improves visibility among international investors and paves the way for a broader capital base. The next milestones are clear. First, the drill program will be completed, and then an initial official resource estimate will be calculated based on the results. This could further solidify Antimony Resources' position as a future North American supplier of this critical metal. With the first resource estimate announced for the first quarter of 2026, the Company could achieve a decisive breakthrough. The share is currently trading at CAD 0.42.

TKMS – On course for calm waters?

Since its IPO in October 2025, ThyssenKrupp Marine Systems has established itself as an independent company. The IPO went well and impressively underscores that the European defense sector remains highly attractive to investors. With a bulging order book of over EUR 18 billion, capacity utilization is more than secure for the next few years. The separation from the thyssenkrupp group has given the Company significantly more leeway. Nevertheless, the parent company remains a stable anchor in the background with its 51% stake.

All eyes are currently on TKMS, as the Company appears to be planning a strategic acquisition. According to media reports, concrete negotiations are already underway to acquire German Naval Yards in Kiel. Such an acquisition would massively expand the capacity for building surface warships, such as frigates. At the same time, TKMS could diversify its business into areas such as ship repair and maintenance. In an industry that is increasingly consolidating, this transaction would significantly strengthen TKMS's market position.

TKMS is in a solid financial position. Even in the current challenging macroeconomic environment, TKMS is demonstrating stable earnings power. Analysts expect earnings per share of around EUR 1.66 for 2025 as a whole. This positive development is primarily fueled by the continuing high demand for submarines and naval technology, which is benefiting directly from rising defense budgets in Europe. For investors who are betting on the structural growth trend in the defense sector, TKMS therefore remains an interesting positioning. The share price is currently trading at EUR 67.85.

The geopolitical environment is providing sustained momentum for the defense sector. With its bulging order book and growing technological leadership, Rheinmetall is demonstrating how an arms giant can systematically benefit from higher budgets. Antimony Resources is positioning itself as a promising supplier of critical raw materials, with its latest drilling results underpinning its potential as a future antimony supplier. Following its successful spin-off, ThyssenKrupp Marine Systems (TKMS) is sailing into calmer waters with secured capacity utilization and strategic expansion plans. For investors, all three companies offer clear leverage on the structural upward trend.