RHI Magnesita

RHI starts 2006 with good results

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Overall, the RHI Group reported revenue in the amount of EUR 329.3 million in the first quarter of 2006 (previous year: EUR 286.3 million), an increase by 15.0%. EBITDA amounted to EUR 42.3 million (previous year: EUR 37.9 million), EBIT, at EUR 31.7 million (previous year: EUR 28.0 million) was up 13.2% on the previous year; Refractories accounted for EUR 33.5 million. Profit before income taxes rose by 7.7% to EUR 25.3 million. Profit from continuing operations was EUR 22.7 million; discontinued operations (Insulating) contributed EUR 5.6 million to profit (previous year: EUR 0.5 million). The RHI Group’s profit totalled EUR 28.3 million in the first quarter of 2006 (previous year: EUR 22.0 million), up 28.6%. Diluted earnings per share amounted to EUR 0.71(previous year: EUR 0.56), an increase by 26.8%.

In the first quarter of 2006, RHI Refractories reported revenue amounting to EUR 327.1 million (previous year: EUR 284.7 million), an increase by 14.9%. Refractories sales volume rose by 6.3% to 450,000 tons. In view of the declining steel output in all regions except China and India in the first quarter of 2006, this development is very positive and confirms the success of RHI’s consistent pricing policy. Revenue from steel customers worldwide exceeded the same quarter of the previous year by 7%, with above-average business growth with key accounts in North America. In the industrial business unit, revenue increased by more than 28% on the same quarter of the previous year; in particular, project business with the cement, non-ferrous metals, environment, energy and chemicals industries developed very successfully. Refractories recorded EBIT of EUR 33.5 million (previous year: EUR 32.1 million) and an EBIT margin of 10.2% (previous year: 11.3%). RHI thus managed to raise the EBIT margin to a two-digit figure again by increasing prices and improving capacity utilisation despite continuing cost increases for high-grade raw materials and energy.

Forecasts for the RHI Group results in 2006 are positive overall, provided there are no unexpected cost, cyclical or exchange rate pressures. In addition to industrial cycles, especially in the steel industry, and monetary parity, business success of the core refractories business is significantly influenced by the consolidation and modernisation of the client industries worldwide. Incoming orders and the good economic situation of RHI’s customer industries indicate a positive business development for refractories. RHI Refractories aims to reach a two-digit EBIT margin again in 2006 based on the implementation of price increases to cover further cost increases.

                                                            2006  2005
                                                            Q1      Q1
Revenue                                                 329.3 286.3
Operating result (EBIT)                        31.7  28.0
Profit                                                  28.3  22.0
Undiluted earnings per share (in EUR) 1.03  0.94
Diluted earnings per share (in EUR)    0.71  0.56

@@start.t2@@end of announcement                                                 euro adhoc 04.05.2006 07:53:13

ots Originaltext: RHI AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
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

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

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