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RHI Magnesita, one of the leading groups for high-quality refractories products, published its first half-year results 2018. The company reports a clearly positive trend, as in the second half of 2017, based on the advantages of the vertical integration of the Group and the synergy effects, since the merger in October 2017 in mid-August.
Price increases drove revenue development, more than offsetting higher raw material input costs, it was said. Revenue for the six months to June 2018 was 1,508 million euros, 24.6 % higher than the comparative period on a constant currency basis (76.4 % higher on a reported basis). Adjusted EBITA increased by almost 90 % on a constant currency basis, to 218 million euros, with a 14.5 % adjusted EBITA margin.
Integration in Progress
“Post-merger integration is progressing extremely well. In addition, the synergy effects occur earlier and are higher than planned,” explained CEO Stefan Borgas, who was also elected as the new chairman of the World...