Global refractories producer RHI Magnesita, a company made up of Brazil’s Magnesita and Austria-based RHI, said profit before tax in H1 was EUR 165 million, up from EUR 90 million in H1 2018.
RHI Magnesita reported in H1 2019 a net profit – after income tax – of EUR 121.2 million, up from EUR 65.1 million in the same period of 2018.
The company said net revenues in H1 2019 rose 2.2 percent, year-on-year, to EUR 1.5 billion.
The company said revenues for its steel division was EUR 1.07 billion, 1.8 percent down, year-on-year.
Despite “challenging market conditions,” particularly in Venezuela and Argentina, steel division revenues for South America were up by 2 percent in H1 2019, year-on-year. “Performance in the region was supported by the successful implementation of price increases,” the company said.
In the steel business, RHI Magnesita offers steel reduction, steel production and steel casting-related products, including solutions for hot metal ladles, impellers, gas injection, among others, aside from providing refractories.