RHI Group improves result by nearly 26%
Wien (euro adhoc) -
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finances/Quarterly result
The RHI Group reported revenues in the amount of EUR 1,099.1 million (previous year: EUR 998.6 million) in the first three quarters of 2007, up 10.1%. EBITDA rose 22.5% to EUR 159.9 million (previous year: EUR 130.5 million); EBIT improved by 25.9% to EUR 122.8 million (previous year: EUR 97.5 million). The EBIT margin, at 11.2% (previous year: 9.8%), also clearly exceeded the figure of the previous year. Profit before income taxes from continuing operations amounted to EUR 95.0 million (previous year: EUR 79.3 million), up 19.8%. The RHI Group´s profit, at EUR 81.8 million (previous year: EUR 132.1 million), was down 38.1% on the previous year. The relevant profit from the continued refractories operations exceeded the figure of the previous year by 14.7%.
With revenues of EUR 668.8 million (previous year: EUR 604.7 million), the RHI´s Steel Division reported an increase by 10.6% in the first nine months of 2007 as compared to the same period in 2006. With EBIT amounting to EUR 62.7 million (previous year: EUR 47.1 million), the EBIT margin climbed to 9.4% (previous year: 7.8%). RHI´s Industrial Division reported revenues in the amount of EUR 389.3 million (previous year: EUR 350.3 million) in the first three quarters of 2007, up 11.1%. This is largely attributable to the acquisition of RHI Monofrax, which produces for the glass segment. The EBIT margin, at 12.4% for invoicing reasons, was at the good level of the previous year. RHI´s Division Raw Materials, Production, Other reported revenues amounting to EUR 722.0 million (previous year: EUR 664.2 million) in the first three quarters of 2007; adjusted for deliveries to the Steel and Industrial Divisions, external revenues amounted to EUR 41.0 million (previous year: EUR 43.6 million). The EBIT margin improved to 1.6% (previous year: 1.0%).
Despite the weakness of the US dollar, which has been ongoing since the beginning of the second half, the positive sales and earnings development of the first three quarters is expected to continue in the last months of the year 2007. The good level of incoming orders and the persisting good business development in the client industries indicate a positive development for the year 2008. The glass and steel industries will continue to drive demand essentially. Apart from a further consolidation of the refractories industry, price increases and availability of raw materials are to be considered persistent trends for the coming year. In addition, the weak US dollar and rising energy costs will remain a risk factor for the European export industry. The vertical integration, global presence and available capacity of RHI should make further price increases possible and keep the impact of the above-mentioned risks at a reasonable level.
The Quarterly Financial Report III/2007 is available from RHI´s website today under www.rhi-ag.com for downloading and also as an online report.
end of announcement euro adhoc 24.10.2007 08:00:00
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
Börsen: Wiener Börse AG / official dealing