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RHI AG / Results of the first quarter 2016 - Seite 2

amounted to EUR 22.1 million in the past quarter after EUR 12.4
million in the comparative period of 2015. As a result, net debt
dropped from EUR 397.9 million at the end of the year 2015 to EUR
378.9 million at March 31, 2016.

The number of employees declined slightly from 7,898 at the end of
the year 2015 to 7,876.

Outlook For the full year 2016, the Management Board of the RHI Group
still expects revenue (2015: EUR 1,752.5 million) below and operating
EBIT (2015: EUR 124.1 million) at the level of the past financial
year, provided that the macroeconomic environment and exchange rates
remain stable, with the first half of 2016 slightly weaker than the
second half of the year. The expected decline in revenue in the Steel
Division is related especially to an expected slowdown of the
business development in South America and a highly competitive
environment. In the Industrial Division, a weaker nonferrous metals
and cement business could cause a decrease in revenue.

Due to the development in the customer industries, RHI is currently
working on further optimizing the plant structure, which could lead
to an adjustment of production capacities in Europe in the current
financial year. In addition, different cost measures have been
defined in the sales and general administrative departments. The
planned continuation of the reduction of working capital should
support the generation of free cash flow and lead to a further
reduction of net debt.

in EUR million Q1/2016 Q1/2015 Delta Q4/2015 Delta
Revenue 389.7 424.1 (8.1)% 440.0 (11.4)%
EBITDA 43.2 51.2 (15.6)% (2.3) 1,978.3%
EBITDA margin 11.1% 12.1% (1.0)pp (0.5)% 11.6pp
Operating EBIT 1) 30.3 34.5 (12.2)% 32.7 (7.3)%
Operating EBIT margin 7.8% 8.1% (0.3)pp 7.4% 0.4pp
EBIT 27.1 34.5 (21.4)% (53.9) 150.3%
EBIT margin 7.0% 8.1% (1.1)pp (12.3)% 19.3pp
Profit before income tax 23.8 29.9 (20.4)% (54.7) 143.5%
Profit after income tax 14.8 21.1 (29.9)% (38.4) 138.5%

1) EBIT before expenses from derivatives from supply contracts, impairment and
restructuring effects


The report for the first quarter of 2016 is available for download at the RHI
website: www.rhi-ag.com/ Investor Relations / Financial Reports

Further inquiry note:
RHI AG
Investor Relations
Mag. Simon Kuchelbacher
Tel: [phone]
Email: [e-mail]

end of announcement euro adhoc
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company: RHI AG
Wienerbergstrasse 9
A-1100 Wien
phone: [phone]
FAX: [phone]
mail: [e-mail]
WWW: http://www.rhi-ag.com
sector: Refractories
ISIN: AT0000676903
indexes: ATX Prime, ATX
stockmarkets: official market: Wien
language: English