RHI Magnesita N.V.
RHI AG english
RHI confirms good operating performance again in the third quarter
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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RHI confirms good operating performance again in the third quarter
Consolidated sales revenue amounted to EUR 920.7 million in the first three
quarters of 2003 (previous year: EUR 988,9 million) the figure of the previous
year still contains the Engineering Division (sold at June 30, 2002) with EUR
72.8 million. On a comparable basis, sales revenue was up 0.5% on the previous
year; with a US dollar/Euro relation as in 2002, the increase would have been
2.6%. Group EBIT amounted to EUR 83.1 million in the first three quarters of
2003 (previous year: EUR 80.0 million), RHI thus surpassed the operating
performance of 2002 despite the unfavorable US dollar/Euro relation.
RHI Refractories accounted for EUR 771.4 million (previous year: EUR 798.4
million) of consolidated sales revenue; the decline is due to the significant
change in the US dollar/ Euro relation. The Refractories EBIT was EUR 87.0
million (previous year: EUR 84.7 million), the EBIT margin in RHIs core business
thus amounted to 11.3%, after 10.6% in the previous year, despite the negative
effects of the weak US dollar in 2003.
Heraklith (Insulating) reported sales revenues of EUR 123.9 million in 2003
(previous year: EUR 125.3 million). Declines in sales revenues in low-margin
segments of the core markets were largely compensated by continuous sales growth
from new product lines and export successes. Insulating EBIT was EUR 4.2
million (previous year: EUR 3.7 million).
Further IAS key data at 30.09.2003: financial result EUR -30.6 million (previous
year: EUR -31.6 million), EBT EUR 52.5 million (previous year: EUR 48.4
million), result before minorities EUR 34.6 million (previous year: EUR 32.2
million), net income after minorities EUR 29.7 million (previous year: EUR 28.2
million), earnings per share EUR 1.48 (previous year: EUR 1.42).
The groups equity improved by EUR 35.2 million at 30.09.2003 as compared to the
previous year; financial payables were reduced by EUR 46.6 million to EUR 324.1
million in the first three quarters of 2003.
Although the US dollar is still weak, the earnings outlook for 2003 remains
positive due to the leading technological position of RHI Refractories and the
good earnings development to date. The level of incoming orders remains stable
and does not indicate a deterioration of the global business situation in the
short term.
Quarterly report under: http://www.rhi-ag.com/download/RHI_Q3_2003(e).pdf
end of ad-hoc-announcement (c)DGAP 06.11.2003
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WKN: 067690; ISIN: AT0000676903; Index: ATX
Listed: Amtlicher Handel in Wien; Amtlicher Handel in Frankfurt (General
Standard); Freiverkehr in Berlin-Bremen und Stuttgart
060800 Nov 03
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