euro adhoc: RHI AG
Dividend Announcements/Distribution
Good RHI results
confirmed, no dividend payment for 2006
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
annual report
24.04.2007
The RHI Supervisory Board approved the financial statements 2006 of RHI AG and the consolidated financial statements 2006 at its meeting on 24 April 2007. The groups preliminary results, which were published on 21 March 2006, have thus been confirmed.
At the Annual General Meeting on 1 June 2007, the Management Board will propose to carry forward the accumulated profit of RHI AG in its entirety in order to strengthen equity and with a view to the ambitious growth targets. RHIs objective is to increase revenue to EUR 2.0 billion by 2010 through organic growth and targeted acquisitions and to raise its world market share to over 15%. There are good opportunities worldwide to expand market position and earnings power further in the coming years. Against this background, the new core shareholder, the MS Private Foundation, has clearly indicated that a dividend proposal will not be supported at the RHI Annual General Meeting.
RHIs consolidated revenue (continued operations) rose by 11.4% to EUR 1,335.8 million in 2006 (previous year: EUR 1,199.4 million). With this increase in revenue, RHI outperformed the growth rates of its client industries and the refractories market, and expanded its position as the world market leader further. EBITDA in the RHI Group amounted to EUR 179.5 million (previous year: EUR 156.4 million); EBIT was EUR 133.8 million in 2006 (previous year: EUR 115.5 million), in increase by 15.8%. The EBIT margin increased to 10.0% (previous year: 9.6%) although energy and raw material costs continued to rise.
RHI reported a group profit amounting to EUR 157.9 million in 2006 (previous year: EUR 97.3 million). EUR 97.1 million of the RHI Groups profit (previous year: 82.8 million) were accounted for by continued operations with RHIs core business, Refractories, up 17,3%. The discontinued Insulating operations (Heraklith) contributed a book profit of EUR 60.8 million (previous year: EUR 14.5 million). Undiluted earnings per share amounted to EUR 5.81 in 2006 (previous year: EUR 4.07), fully diluted earnings per share to EUR 4.01 (previous year: EUR 2.55), up 57.3%.
The Annual Report 2006 will be available from RHIs website on 25 April 2007 under www.rhi-ag.com for downloading and also as an online report. RHI will publish the quarterly result I/2007 on 3 May 2007.
end of announcement euro adhoc 24.04.2007 14:16:44
Further inquiry note:
RHI AG
Investor Relations
Dkfm. Markus Richter
Tel: +43-1-50213-6123
Email: markus.richter@rhi-ag.com
Branche: Refractories
ISIN: AT0000676903
WKN: 874182
Index: ATX Prime
Börsen: Wiener Börse AG / official dealing