RHI Magnesita N.V.
RHI AG english
RHI looks optimistically to 2003
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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RHI looks optimistically to 2003
The RHI Board shall be submitting an investment budget for 2003 amounting to EUR
48 m to the Supervisory Board on Dec. 19, 2002 for approval. This budget aims
to pave the way, particularly in the core refractory business, for expansion and
the further optimisation of global business. The position of RHI Refractories
as global technology leader will thus be strengthened even further. As part of
the investment budget, the Supervisory Council shall also be presented an
acquisition project involving European refractories, entailing a growth in sales
amounting to EUR 25-30 million.
Altogether, the outlook to 2003 results is favourable. In the core business
refractories and in the insulation division, RHI is counting on further
improvements in terms of sales and results. Expectations are that the EBIT of
the RHI Group will be some 10% higher than in 2002 despite the weak business
situation across the globe. RHI estimates that the EBIT in 2002 will exceed EUR
80 million. Prediction are that the annual net profit 2003 will outdo the 2002
level of EUR 40 million by up to 25%.
The marked rise in the annual net profit expected for 2003 is also credited to
the further reduction of amounts due to banks and the interest rate, which is
comparably lower than in 2002. This has had a positive effect on the financial
results.
end of ad-hoc-announcement (c)DGAP 18.12.2002
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WKN: 067690; ISIN: AT0000676903; Index: ATX
Listed: Amtlicher Handel in Wien; Amtlicher Handel in Frankfurt, München;
Freiverkehr in Berlin, Hamburg, Stuttgart
181525 Dez 02
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