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ots Ad hoc-Service: RHI AG <AT0000676903> Further significant increase in earnings in second quarter 2000

Vienna (ots Ad hoc-Service) -

The sender is solely responsible for the contents of this
announcement.
RHI group posted clear increases in both sales revenue and
operating result (EBIT) during the second quarter of 2000. Continued
growth in the steel industry and the recently implemented
cost-reduction measures led to further improvements in the earnings
of the refractories division in Europe. Moreover, the ongoing
integration of Harbison-Walker/GIT, since the start of the year has
produced its first impact on earnings. The group EBIT in the second
quarter of 2000 more than tripled that of the first quarter.
Overall, the RHI group reported sales revenue of EUR 566 million
in the second quarter of 2000, up 10% on the year's first quarter
(EUR 516 million). In addition to the normal seasonal rise in sales
in the engineering, insulating, and waterproofing divisions, the
refractories division reported increased sales in the second quarter.
Together with the successful first quarter, RHI can boast half-year
sales revenue of EUR 1,082.3 million, compared with EUR 743.9 million
in the same period of the previous year.
The RHI group's earnings showed even greater gains in the second
quarter. The EBITDA (earnings before interest, tax, depreciation, and
amortization) rose to EUR 60 million in the second quarter of 2000,
from EUR 37 million in the first quarter (+62%). This resulted in an
EBITDA for the first half year of EUR 97 million, a doubling of the
group's operational earnings in comparison with the same period the
year before (EUR 46.9 million).
The RHI group's operating result (EBIT) in the second quarter of
2000 reached EUR 32.1 million, a threefold increase over the result
of the previous quarter (EUR 9.0 million). At EUR 41.1 million, the
EBIT for the first half year 2000 was more than three times higher
than in the first half of 1999 (EUR 11.7 million).
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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