RHI Magnesita Says Q3 Profitability Weaker Than Forecast

RHI Magnesita said that third quarter profitability was weaker than forecast but momentum improved in September as the benefits of price increases took effect.

The company noted that achieving full year guidance for EBITA of 310 million euros requires a strong performance in the fourth quarter, which is supported by the normal seasonal uplift in cement but is also subject to the agreement of further price increases which are currently being negotiated with customers.

Full year EBITA could therefore be between 280 million euros and 310 million euros, depending on the successful realization within the fourth quarter of the latest round of price increases and any further increases in costs.

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