RHI increases earnings again in the third quarter of 2012

RHI increases earnings again in the third quarter of 2012
08 November 2012


Revenues of refractories specialist RHI Group increased by 7% in the third quarter of 2012 in comparison to the same quarter of 2011 and amounted to €459.9m.

While revenues in the Steel Division dropped by 3.7% in a market environment still characterized by uncertainty, the Industrial Division recorded growth of 25.8% as some major projects were delivered. The operating result of the third quarter was up 28.3% on the comparable period of 2011 and amounted to €50.3m, thus again exceeding the high level of the previous quarter.

Positive restructuring effects of €6.3m resulted from the sale of the plant in South Africa. The Group’s EBIT amounted to €56.6m in the third quarter, exceeding the figure of the third quarter of 2011 by 44.4%. The EBIT margin rose significantly from 9.1% to 12.3%.

Net debt remained nearly constant at €424.4m despite high investments in Norway and Turkey. The gearing ratio improved from 90.2% in the second quarter of 2012 to 86.1%.

Published under Cement News

Tagged Under: RHI AG Germany Results Refractories