Despite rising raw material and energy costs, RHI, the world market leader in refractories, recorded an EBIT margin of 12.2% in the first half of 2008, exceeding the target EBIT margin, which had been revised upwards from 10.0% to 12.0% by 2010 only at the beginning of 2008.
| 2nd Quarter | Ist Half | |||
| in € million | 2008 | 2007 | 2008 | 2007 |
| Revenues | 415 | 366,4 | 806,8 | 723,8 |
| EBITDA | 63,8 | 51,7 | 122,7 | 106 |
| EBIT | 51,2 | 39,2 | 98,1 | 81,6 |
| EBIT margin | 12.3% | 10.7% | 12.2% | 11.3% |
| Diluted earnings per share (in €) | 0,92 | 0,62 | 1,77 | 1,34 |
Outlook RHI expects an ongoing positive market environment with positive growth rates in both the Steel and Industrial Divisions for the second half of 2008. The continued good level of incoming orders indicates a good business development for the remainder of the year.
The dramatic price increases and shortages of raw materials as well as the soaring energy prices will require further massive price adjustments in the next quarters. The Group’s global presence as well as the supply with its own raw materials and the resulting secure supply for customers should be a support in this situation.