RHI Group exceeds target EBIT margin of 12% in the first half of the year
Wien (euro adhoc) -
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finances
Despite rising raw material and energy costs, RHI, the world market leader in refractories, recorded an EBIT margin of 12.2% in the first half of 2008, exceeding the target EBIT margin, which had been revised upwards from 10.0% to 12.0% by 2010 only at the beginning of 2008.
2nd Quarter 1st Half in EUR million 2008 2007 2008 2007 Revenues 415.0 366.4 806.8 723.8 EBITDA 63.8 51.7 122.7 106.0 EBIT 51.2 39.2 98.1 81.6 EBIT margin 12.3% 10.7% 12.2% 11.3% Diluted earnings per share (in EUR) 0.92 0.62 1.77 1.34
Outlook
RHI expects an ongoing positive market environment with positive growth rates in both the Steel and Industrial Divisions for the second half of 2008. The continued good level of incoming orders indicates a good business development for the remainder of the year.
The dramatic price increases and shortages of raw materials as well as the soaring energy prices will require further massive price adjustments in the next quarters. The Group´s global presence as well as the supply with its own raw materials and the resulting secure supply for customers should be a support in this situation.
Details on the half-year results as well as the online version of the half-year financial report 2008 are available on RHI´s website www.rhi-ag.com
end of announcement euro adhoc
Further inquiry note:
RHI AG
Investor Relations
Mag. Barbara Potisk
Tel: +43-1-50213-6123
Email: barbara.potisk@rhi-ag.com
Branche: Refractories
ISIN: AT0000676903
WKN: 874182
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing