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[September 2004]
Positive Growth in Both RHI Divisions
Business development of the RHI Group (Vienna, Austria) was characterised by positive growth in both divisions in the first half of 2004. RHI Refractories increased sales revenue world-wide by 5.3%, adjusted for currency effects by 9.2%; Heraklith (Insulating) improved sales revenue by 12.1%.
Overall, the group reported sales revenues of €632 million, up from €613.4 million in the first half of 2003. EBITDA amounted to €79.7 million (H1 2003: €78.6 million); EBIT was €55.7 million (H1 2003: €53.9 million). The EBIT margin reached 8.8% again. Net income before taxes rose by 18.9% to €39 million (H1 2003: €32.8 million).
RHI Refractories contributed €544.3 million (HI 2003: €516.7 million). Refractories sales volume grew by 10.9% to 831,000 tons in the reporting period. EBIT amounted to €60.7 million (H1 2003: €59.2 million) which corresponds to an EBIT margin of 11.2%.
The group has also just announced that in order to enhance the business strength in the CIS market, RHI Refractories has recently opened its regional sales office in Moscow, Russia. Andrej Kiselev has been appointed as General Manager CIS. In conjunction with the expanding local Moscow team, Mr Kiselev is still supported from RHI's headquarters sales organisation in Vienna.
ENDS