2018-08-17
Aug. 16, 2018 - RHI Magnesita N.V. (LSE: RHIM), the global leading supplier of refractory products, systems and services, today announces its half year results for the six months ended June 30, 2018. RHI Magnesita’s first half results continue to reflect the positive trends seen in the H217, the benefits of our high level of vertical integration and synergies from the combination. Price increases drove revenue development, more than offsetting higher raw material input costs. Revenue for the six months to June 2018 was €1,508 million, 24.6% higher than the comparative period on a constant currency basis (76.4% higher on a reported basis). Adjusted EBITA increased by almost 90% on a constant currency basis, to €218 million, with a 14.5% adjusted EBITA margin.
HIGHLIGHTS:
Commenting on the results, Chief Executive Officer, Stefan Borgas, said:
“We are delighted to report strong growth of 25% in the first half and profit growth of 88%. We have seen a continuation of the positive trends we saw in the second half of 2017, the benefits of our high level of vertical integration and the synergies from the merger of RHI and Magnesita in Q4 2017. Continued strong demand from our end markets and price increases drove revenue growth, more than offsetting higher raw material input costs. Our integration plans developed ahead of our plan both in terms of speed of capture and total amount.”
“Whilst geopolitical challenges could impact the second half and beyond, we believe our geographically diversified production bases and broad customer profile will insulate the Group to a large extent. Today, we continue to anticipate that full year operating results will accrue the benefits from strong pricing, additional merger synergies and network optimisation.”
“Overall, we have achieved strong first half results and management expectations for the full year operating results remain unchanged. We thank our customers for their support and collaboration in times of tight availability, and our employees for all their ideas, efforts and contributions.”
Sponsored by: ACRI (The Association of China Refractories Industry), Tangshan YinNaiLian E-Business Co., Ltd.
Copyright © 2005-2020 Refractories Window All Rights Reserved
Tel: +86-315-5918500 Fax: +86-315-5918828 Email: info@refwin.com
ICP经营许可证编号: 冀B2-20060049 ICP备案号: 冀ICP备17015545号