RHI Magnesita N.V.
RHI AG english
RHI results 2001 characterized by new orientation of core business Refractories
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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RHI group results for 2001 lie within the framework of the preliminary figures
published in January 2002 and are characterized by the deconsolidation of the
US refractories companies and risk provisions.
The future core business Refractories in Europe, Asia and Latin America (from
2002 also Canada) reported an EBIT from operating activities of EUR 72.2 million
in 2001 (2000: EUR 59.4 million); including one-off effects EBIT amounted to
EUR 62.1 million (2000: EUR 72.0 million). The refractories business in North
America (US companies were deconsolidated as of Dec. 31, 2001), shows an EBIT
from operating activities in the amount of EUR -51.8 million due to the economic
crisis in the USA; including one-off effects, EBIT amounted to EUR -133.6
million (2000: EUR 23.7 million). Overall, Refractories thus reported an EBIT of
EUR -71.5 million for 2001 (2000: EUR 95.7 million).
Insulating recorded an EBIT from operating activities amounting to EUR 2.2
million in 2001 due to the weak construction industry and deconsolidation
effects; including one-off effects, EBIT amounted to EUR -6.9 million (2000: EUR
11.2 million). Engineering concluded the year 2001 with an operating EBIT of
EUR 0.3 million; including one-off effects, EBIT amounted to EUR -7.5 million
(2000: EUR 7.6 million).
RHI consolidated sales revenue amounted to EUR 1,867.2 million in 2001 (2000:
EUR 2,193.6 million). The decline is primarily attributable to the
deconsolidation of Waterproofing and the weak sales situation of Refractories
North America. EBIT totaled EUR -114.3 million in 2001 (2000: EUR 131.3
million), the result from ordinary activities (EBT) was negative at EUR -204.9
million (2000: EUR 70.1 million).
RHI group net loss for 2001 amounted to EUR -856.4 million (2000: EUR 30.8
million). This includes an extraordinary result of EUR -590.7 million, which
consists of extraordinary expenses for depreciation, risk provisions and
valuation adjustments of receivables of the US refractories companies, and
extraordinary income from the deconsolidation of these companies.
The equity consumption caused by the net loss for the year is partly compensated
by the mezzanine capital of EUR 400 million agreed in the course of the capital
restructuring; with the subordinated convertible bonds, and the expected net
income for the year, a positive beneficial equity is to be reached again in
2002.
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
280803 Mai 02
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