1st Aug 2022 09:49
RHI Magnesita NV - Vienna-based supplier of refractory products - Revenue for first half of 2022 rises 33% to EUR1.59 billion from EUR1.20 billion a year before. Pretax profit improves 14% to EUR142.4 million from EUR124.5 million. Says price increases worth EUR293 million since the first half of last year have been successfully executed, driving "strong" top-line growth and offsetting inflation pressure. Keeps dividend at EUR0.50 per share. Says full-year expectations unchanged based on strong demand in the year-to-date and order book for the second year. "More frequent and dynamic pricing discussions with customers have restored margins to acceptable levels following the delays in passing on cost increases in 2021. The group is confident that any further cost increases in 2022 can be passed on quickly to customers, who continue to value security of supply over price," RHI Magnesita says. Read More
