24th Jul 2024 13:58
RHI Magnesita NV - Vienna-based manufacturer of refractory products for the processing of steel, glass, and non-ferrous metals - Pretax profit rises 29% to EUR143 million in the first half of 2024 from EUR111 million a year before, despite flat revenue of EUR1.73 billion. RHI Magnesita says recent acquisitions make up for 3% lower sales volume and 4% lower prices to keep revenue steady. Excluding acquisitions, sales volume is down 1% in the Steel division and 10% in the Industrial division. Remains on track for previous guidance of at least EUR410 million in adjusted earnings before interest, tax, depreciation and amortisation in 2024. Adjusted Ebitda is EUR258 million in the first half of 2024 and was EUR543 million in all of 2023. This means 2024 adjusted Ebitda will be down as much as 24%.
Company also raises interim dividend by 9.1% to EUR0.60 per share from EUR0.55.
Current stock price: 3,590.00 pence, down 1.9% in London on Wednesday
12-month change: up 24%
By Tom Waite, Alliance News editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.