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ots Ad hoc-Service: RHI AG <AT0000676903> In the first quarter of 2000 the RHI group experienced a significant growth in sales and earnings

Wien (ots Ad hoc-Service) -

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After a relatively quiet business
development in January and February, business increased rapidly in
the month of March, particularly in the refractories division. Not
only sales volume but also prices improved. As cost savings are now
also fully effective in Europe, March was one of refractories
divisions the best months ever in terms of earnings.
In general, the other divisions also developed positively in the
first quarter of 2000 as compared to the same period of the previous
year. However, the months in which the insulating, waterproofing and
engineering divisions will realize most sales and earnings are still
to come.
Overall, the RHI group reported sales revenue of EUR 516.3 million
in the first quarter of 2000, up EUR 153.8 million, or 42%, on the
same period of the previous year. EUR 126.9 million were accounted
for by changes in the consolidated group, especially
Harbison-Walker/GIT. Real growth of the RHI group thus amounted to 7%
in the first quarter of 2000.
EBITDA (earnings before interest, tax, depreciation and
amortization) rose by 155% to EUR 37 million in the first quarter of
2000, thus reflecting the clearly improved operating earnings power
of the group.
The operating result (EBIT) of the RHI group increased to EUR 9
million in the first quarter of 2000, following EUR -3.1 million in
the same period of the previous year. The EBIT of the first quarter
of 2000 for the first time includes amortization of goodwill
amounting to EUR 3 million.
Based on the RHI groups current business development with a
clearly positive trend towards the end of the first quarter, the
Board of Management is confident to reach the EBIT target of EUR 145
million (ATS 2 billion) set for the whole year of 2000. This
confidence is primarily based on the good progress made in the
integration of Harbison-Walker/GIT and the positive market situation
in the refractories business.
Für weitere Informationen / For further information: RHI AG: Peter
Hofmann (Corporate Communications) Phone +43 1 50213-123 / Fax +43 1
50213-130 e-mail:  peter.hofmann@rhi-ag.com Home page: http://
www.rhi.at
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