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[May 2004]
RHI Starts 2004 With Good Results
The RHI Group (Vienna, Austria) reported overall positive sales revenues amounting to €302.3 million (previous year: €298.6 million) in the first quarter of 2004. Refractories raised its sales revenue by 2.6% world-wide in Q1 2004, adjusted for currency effects by 8.2%. Insulating improved its sales revenue by 12.3%. The concentration on the core refractories business under the RHI Refractories brand and Insulating, with the leading company Heraklith AG, one again proved to be the right strategy, said the group.
EBITDA in Q1 2004 was €36.7 million (Q1 2003: €37.7 million) and EBIT, at €25.3 million was once again at a good level, matching Q1 2003.
RHI Refractories contributed €263.2 million to consolidated sales revenue in Q1 2004 and sales volume grew 10% to more than 410,000 tons in the reporting period. An EBIT of €29.1 million was achieved, which corresponds to an EBIT margin of 11.1%. Price increases were initiated world-wide by RHI Refractories in order to compensate for the significant increase in raw material and freight costs.
ENDS