RHI Magnesita

RHI Group records double-digit growth rates in the first three quarters of the year

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Wien (euro adhoc) - In the first three quarters of 2008, RHI, the world market
leader in refractories, increased revenues to EUR 1,220.9 million, up 12.4% on
the same period in 2007. EBITDA rose by 15.1% to EUR 184.9 million; EBIT
improved by 19.6% to EUR 148.0 million. At 12.1%, the EBIT margin thus clearly
exceeded the prior-year figure of 11.4%.
                                        3rd Quarter           Q1-Q3
in EUR million                          2008    2007*)  2008    2007*)
Revenues                               414.1    362.1   1,220.9 1,085.9
EBITDA                                  62.2    54.7    184.9   160.7
EBIT                                    49.9    42.1    148.0   123.7
EBIT margin                             12.1%   11.6%   12.1%   11.4%
Diluted earnings per share (in EUR)     0.92    0.70    2.69    2.04
   *) adjusted 

Outlook RHI expects a continued satisfactory business development until the end of the year, although the growth rates recorded so far in 2008 are unlikely to continue in the coming year due to significant production cuts in the steel industry.

The further development of the Steel Division in 2009 will be heavily dependent on the global environment, with employment in the automotive, construction and mechanical engineering sectors being decisive for its customer industry. In the Industrial Division, it remains to be seen whether projects will be postponed. While the real estate crisis in some regions of the world slows down cement consumption, the glass industry currently expects little impact of the financial crisis on planned investments. Major investment projects, especially in the nickel, copper and zinc segments, are influenced by the sharply dropped metal and alloy prices, which are leading to order postponements. The Raw Materials/Production Division will suffer from the high energy and raw material costs in the next few months. The additional supply with own raw materials from China will have a positive effect on the result in 2009.

Details on the quarterly result are available on the RHI´s website www.rhi-ag.com. The online version of the quarterly financial report will be available on the RHI´s website on 30 October 2008.

end of announcement                               euro adhoc

Further inquiry note:

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

Original-Content von: RHI Magnesita, übermittelt durch news aktuell

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