Have European arms companies increased their profits due to wars?

euronews (in English)

The world's top 100 arms-producing companies recorded profits of almost 600 billion last year, amid wars in Gaza and Ukraine and a generally tense geopolitical situation.

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00:00How have European arms companies profited from the wars in Gaza and Ukraine?

00:09The top 100 arms producers across the world have seen their profits reach 598 billion

00:15euros in 2023. That's an increase of 4.2% compared to 2022, largely as a result of wars

00:24in the Middle East and Ukraine. In Europe, smaller arms companies increased their revenues

00:29dramatically, indicating that bigger companies who operate on longer-term contracts could

00:35follow.

00:36Seven arms companies in the top 100 are based in the UK, with the highest increase, 16%,

00:43reported by Atomic Weapons Establishment, which produces nuclear warheads.

00:48The top four German companies increased their profits from arms by 7.5%, with Rheinmetall,

00:54which produces ammunition and tanks often used in Ukraine, increasing its profits by

00:5910%, to reach 5.2 billion euros.

01:03The pan-European company Airbus, which you might know for producing airplanes, saw its

01:08revenue fall by 1.5%, but was still the highest-grossing European arms company in the top 100.

01:15Elsewhere, arms companies in the Middle East and Russia saw a sharp profit. Three companies

01:21based in Israel reached their highest-ever profit of 12.8 billion euros, as a result

01:27of the outbreak of war in Gaza.

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