RHI Magnesita N.V.
RHI AG english
RHI’s final quarterly results confirm the positive earnings development
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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The preliminary results for the first quarter of 2002, which were already
published on April 25, 2002 have been confirmed and current business is
developing positively. RHI is confident it will reach the earnings targets 2002
underlying the capital restructuring.
The quarterly figures are shown according to ÖHGB (Austrian Commercial Code) and
IAS for the first time; the transition, however, is not based on an audited IAS
opening balance sheet.
RHIs consolidated sales revenue amounted to EUR 333.3 million in the first
quarter of 2002 (previous year: EUR 471.9 million incl. North America); the
decline results from the deconsolidation of the US refractories activities. EUR
261.7 million of the consolidated sales revenue are accounted for by the core
business Refractories including activities in Canada, which have been integrated
into the new RHI Refractories structure. Overall, sales revenue from
Refractories amounted to EUR 398.0 million in the previous year; the figure of
the previous year comparable to the new structure of 2002 came to EUR 256.3
million. The Refractories EBIT amounted to EUR 23.3 million in the first quarter
of 2002 (previous year incl. North America: EUR 16.5 million), the EBIT margin
in the RHI core business thus amounts to 8.9%.
Insulating reported sales revenues of EUR 36.5 million in the first quarter of
2002 (previous year: EUR 46.0 million), which fell short of the figure of
previous year due to changes in consolidation. EBIT, at EUR -1.7 million
(previous year: EUR -0.1 million), was still negative due to seasonal factors.
Engineering recorded sales revenues of EUR 38.1 million (previous year: 35.9
million); EBIT, at EUR -2.6 million (previous year: EUR -1.3 million), was still
negative as expected due to seasonal factors.
Consolidated-EBIT amounted to EUR 11.6 million (previous year: 10.2 million)
according to ÖHGB and to EUR 16.0 million according IAS. The financial result
was EUR -4.2 million (ÖHGB) or EUR -6.6 million (IAS).
The result from ordinary activities (EBT) of the RHI group amounted to EUR 7.4
million (ÖHGB) or EUR 9.4 million (IAS) in the first quarter of 2002. Net income
for the period came to EUR 3.6 million (ÖHGB) or EUR 5.3 million (IAS).
end of ad-hoc-announcement (c)DGAP 28.05.2002
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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
280801 Mai 02
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