The RHI Supervisory Board approved the financial statements 2005 of RHI AG and the consolidated financial statements 2005 at its meeting on April 24, 2006. The group’s preliminary results 2005, which were published on March 22, 2006, have thus been confirmed.
With a profit of EUR 99.8 million (2004: EUR 99.7 million), RHI once again reported a very good result in the financial year 2005. The profit attributable to stockholders of RHI AG (after minority interest) amounts to EUR 98.1 million (2004: EUR 95.0 million). On an undiluted basis, earnings per share came to EUR 4.18 (2004: EUR 4.63) as a result of the newly added RHI shares due to the conversion of convertible bonds in 2005. Taking into account all possible conversions by the end of 2009, earnings per share on a fully diluted basis were EUR 2.61 (2004: EUR 2.58).
With its good results, RHI once again confirms that the strategic direction taken following the crisis in 2001 has been successful. After the contract to sell the Insulating Group was signed in January, RHI is now fully concentrating on extending the globally leading technology and market position of RHI Refractories.
In accordance with IFRS, RHI’s consolidated revenue in 2005 amounted to EUR 1,199.4 million (2004: EUR 1,119.8 million), up 7.1%. This consolidated revenue shows the continuing refractories operations and other revenue in the amount of EUR 14.3 million. The RHI Group’s EBIT was EUR 117.8 million in 2005 (2004: EUR 125.5 million).
RHI expects in the core business refractories an overall positive market environment in 2006. Incoming orders at the beginning of 2006 exceed the level of the previous year. RHI aims to reach a two-digit EBIT margin again based on a successful implementation of price increases to cover further increases in costs. RHI will publish the Quarterly Report I/2006 on 4 May, 2006.
The Annual Report 2005 is available on RHI’s website under www.rhi-ag.com at http://www.rhi-ag.com/internet/en/corpsvc/ir/Geschaeftsberichte_20-_20Annual_20Reports.html for downloading, and also as an online report at the http://www.rhi-ag.com/internet/en/corpsvc/ir/Reports_20-_20Online.html.