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RHI Magnesita (RHIM) investor relations material
RHI Magnesita Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Self-help and operational improvements drove margin and profit growth, especially in steel, cement, and non-ferrous segments, despite a 5% revenue decline and significant FX headwinds.
Steel segment showed resilience with improved gross profit and margin, while industrial projects and glass faced historic lows and project delays.
Management confirmed full-year guidance, focusing on cash flow, deleveraging, and safety culture transformation with digital initiatives.
Financial highlights
Revenue declined 4.9% to €1,595m, broadly flat on constant currency; gross profit stable at €354m.
Adjusted EBITA/EBITDA rose 17% to €165m, margin improved to 10.3%; adjusted EPS increased 32% to €1.81.
Net debt increased by €33m to €1,528m; leverage stable at 2.9x net debt/EBITDA.
Cash conversion remained strong at 97%.
Interim dividend of €0.60/share declared.
Outlook and guidance
Full-year adjusted EBITA guidance confirmed at €400m (reported), €435m (constant currency), with a €35m FX headwind.
Deleveraging targeted to 2.6x net debt/EBITDA by year-end; net debt targeted at ~€1.4bn.
Capex guidance for FY 2026 reduced to €115m; working capital intensity expected to fall to 22% by year-end.
Self-help initiatives expected to deliver €45m EBITA improvement in 2026.
- Pricing and M&A offset volume weakness as cash generation funded growth.RHIM
H2 2023 - Margin expansion and sustainability driven by integration, innovation, and recycling.RHIM
Corporate presentation - EBITDA/EBITA up 15% year-over-year; guidance and strong cash generation reaffirmed.RHIM
Q1 2026 TU - Cost actions and M&A drove H2 recovery in 2025, supporting a cautious 2026 outlook.RHIM
Q4 2025 - Revenue and margins fell on weak demand and pricing, but H2 recovery is expected.RHIM
H1 2025 - Margins remain resilient despite weak demand and lower pricing, with EBITA guidance trimmed.RHIM
Q3 2024 TU - Stable revenue and strong cash flow; EBITA guidance reaffirmed despite weak demand.RHIM
H1 2024 - Weak Q1, overcapacity, and trade risks make H2 recovery vital for guidance.RHIM
Q1 2025 TU - Solid 2024 results and margin gains despite weak demand; modest growth seen for 2025.RHIM
H2 2024
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