Global refractories producer RHI Magnesita, a company comprised of Brazil’s Magnesita and Austria-based RHI, posted weaker full-year 2019 results, the company said this week.
Adjusted EBITDA in full-year 2019 was EUR 408 million, 8.9 percent down, year-on-year. Adjusted EBITDA margin in full-year 2019 slightly decreased to 14 percent, from 14.3 percent in full-year 2018.
RHI Magnesita said net revenues in full-year 2019 dropped 6.5 percent, year-on-year, to EUR 2.92 billion. The company’s steel division revenues in full-year 2019 fell 10.4 percent, year-on-year, reflecting “weak end markets and customer destocking.”
RHI Magnesita said the integration between RHI and Magnesita was completed in full-year 2019. RHI Magnesita posted profits before tax of EUR 200 million in full-year 2019, down from EUR 246 million in 2018.
According to the company’s full-year results, both profit before tax and adjusted EBITDA were listed as separate financial indicators.