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RHI Magnesita NV - Vienna-based supplier of refractory products - Revenue for first half of 2022 rises 33% to €1.59 billion from €1.20 billion a year before. Pretax profit improves 14% to €142.4 million from €124.5 million. Says price increases worth €293 million since the first half of last year have been successfully executed, driving ‘strong’ top-line growth and offsetting inflation pressure. Keeps dividend at €0.50 per share. Says full-year expectations unchanged based on strong demand in the year-to-date and order book for the second year. ‘More frequent and dynamic pricing discussions with customers have restored margins to acceptable levels following the delays in passing on cost increases in 2021. The group is confident that any further cost increases in 2022 can be passed on quickly to customers, who continue to value security of supply over price,’ RHI Magnesita says.
Current stock price: 2,232.00 pence
12-month change: down 41%
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