31st Jul 2026 13:35
(Alliance News) - RHI Magnesita NV on Friday reported increased profit and adjusted earnings despite foreign exchange headwinds, and stood by its full-year guidance.
The Vienna-based refractory products maker's revenue for the first half of 2026 decreased 4.9% to EUR1.60 billion from EUR1.68 billion the year before, but was flat at constant exchange rates.
Pretax profit multiplied to EUR47 million from EUR14 million, while earnings before interest and tax increased by 61% to EUR98 million from EUR61 million.
Adjusted earnings before interest, tax, depreciation and amortisation increased 9%, or 24% at CER, to EUR230 million from EUR211 million, "despite a continuing soft refractory demand and a material foreign exchange headwind." The firm said its adjusted figures exclude impairments, amortisation of intangibles and exceptional items.
The company said this growth reflects continued delivery of its structural self-help cost measures and price adaptations, in line with its expectations for 2026.
RHI Magnesita declared an unchanged interim dividend of 60 euro cents. Earnings per share increased to 68 cents from 15 cents.
Looking ahead, the firm confirmed its full-year adjusted Ebitda target of EUR400 million, after foreign exchange headwinds, and said it expects to reduce its net debt to EUR1.40 billion by the end of the year from EUR1.53 billion as of June 30.
"RHI Magnesita delivered a solid double-digit earnings improvement...supported by continued progress on our self-help initiatives," commented Chief Executive Officer Stefan Borgas. "We are pursuing further measures across the plant network and raw materials, to reduce costs and sell into non-refractory raw material markets, to enhance the group's operating leverage when demand improves.
"In addition, our EUR100 million investment in digital infrastructure, now around two-thirds complete, will provide a strong foundation for future efficiency gains."
RHI Magnesita shares were down 0.7% at 2,865.00 pence on Friday afternoon in London.
By Emma Curzon, Alliance News reporter
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