EANS-Adhoc

RHI AG / Provision resulting from the valuation of a long-term energy supply contract has a negative effect on earnings in 2015 and leads to improvements in the following years - dividend remains unchanged - Seite 3

million at December 31, 2015 after EUR 493.9 million in the previous
year. The equity ratio improved from 26.5% to 27.2% in the year 2015.
The consolidated statement of financial position at December 31, 2015
shows net debt of EUR 397.9 million (previous year: EUR 466.9
million).

Steel Division Sales volume of the Steel Division declined by 7.5%,
from roughly 1,246,000 tons in the previous year to roughly 1,152,000
tons in the past financial year. This is primarily attributable to
weaker linings business in the electric arc furnace and ladle
segments. Revenue declined by 0.8%, from EUR 1,108.8 million in the
previous year to EUR 1,099.9 million. The decrease in revenue in
Europe, the Middle East and North Africa was compensated by a good
business development in India and South America as well as positive
currency translation effects resulting from the devaluation of the
euro against the US dollar. The operating EBIT dropped from EUR 93.1
million in the previous year to EUR 64.3 million in the past
financial year due to lower utilization of the production capacities
and negative product mix effects.

Industrial Division Sales volume of the Industrial Division amounted
to 443,000 tons in the financial year 2015, thus remaining largely
constant compared to the prior-year level of roughly 440,000 tons.
Revenue rose by 8.5%, from EUR 566.6 million in the previous year to
EUR 614.6 million. One of the reasons is a major contract in the
environment, energy, chemicals business unit in the petroleum coke
gasifier segment in India. In addition, several major repairs
postponed by customers in the previous year were carried out in the
glass and nonferrous metals business units. Moreover, the cement/lime
business unit benefited from a positive development of the
construction sector in North America. As a result of higher revenue
and better margins in the nonferrous metals business unit as well as
savings realized in the glass business unit, the operating EBIT
increased from EUR 48.6 million in the year 2014 to EUR 65.0 million
in the past financial year.

Raw Materials Division External sales volume of the Raw Materials
Division increased significantly from roughly 182,000 tons in the
previous year to roughly 297,000 tons in the past financial year. The
increase by 63.2% is primarily attributable to the sale of raw
dolomite. While these sales contribute a large share to volume, the
effect in terms of value is small as the sales prices per ton are
low. Revenue decreased by 10.1% from EUR 303.3 million in the
previous year to EUR 272.6 million in 2015. This is due to both lower
internal demand by the Steel Division, especially in the area of