RHI Magnesita

ots Ad hoc-Service: RHI AG RHI continues along its success course

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    Wien (ots Ad hoc-Service) -    

    In the third quarter of this year, the RHI group increased the quarterly EBIT (operating result) once again and significantly exceeded the annual EBIT of the previous year after three quarters. The continuing good refractories business in Europe and Asia and further improvements in results in the American refractories activities are opening up a positive prospect for results.

    Overall, the RHI group reported sales revenues of EUR 561.5 million in the third quarter of 2000, thus only slightly below the comparative figure of the previous quarter, although the refractories division usually shows a somewhat weaker business development in the third quarter due to the vacation months. The insulating and waterproofing divisions reported the usual significant increase in sales revenue in the third quarter due to seasonal factors. The engineering division also performed better in the third quarter than the previous one. In the first nine months of 2000, the RHI group realized sales revenues of EUR 1,643.8 million, up approx. 45% on the figure of the same period of the previous year (EUR 1,134.6 million).

    Based on this excellent development of sales revenue and the significantly higher earnings power of the RHI group, the EBITDA (earnings before interest, tax depreciation and amortization) was increased to EUR 68.8 million in the third quarter, after EUR 60 million in the second quarter. EBITDA for the period 1-9/2000 thus amounted to EUR 165.8 million, almost twice that of the same period of the previous year (EUR 89.6 million).

    The operating result (EBIT) of the RHI group amounted to EUR 34.9 million in the third quarter of 2000 (Q2/2000: EUR 32.1 million). The EBIT of the first three quarters came to a total of EUR 76 million. Compared to the same period of the previous year, this means that the group's operating earnings power doubled.

    Für weitere Informationen / For further information: RHI AG: Peter Hofmann (Corporate Communications) Phone +43 1 50213-123 / Fax +43 1 50213-130 e-mail: peter.hofmann@rhi-ag.com Home page: http:// www.rhi.at

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