RHI Magnesita N.V. (DI) (RHIM)

Sector:

Engineering

Index:

FTSE 250

3,576.00p
   
  • Change Today:
      30.00p
  • 52 Week High: 3,694.00
  • 52 Week Low: 2,050.00
  • Currency: UK Pounds
  • Shares Issued: 47.13m
  • Volume: 301
  • Market Cap: £1,685.41m

RHI Magnesita pulls dividend as tough conditions persist

By Frank Prenesti

Date: Wednesday 01 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Refractory products company RHI Magnesita pulled its dividend and said difficult market conditions in the second half of 2019 had continued in the first quarter of 2020.
The company, which makes heat-resistant linings for furnaces and kilns, said that while the coronavirus pandemic had not had a had a material financial impact to date, it had seen a slowdown in customer activity particularly in its Steel Division, adding that the future demand environment was "very uncertain".

Full revenue fell 6.5% to €2.92bn due to lower volumes from the steel division, as a result of inventory destocking at customers' sites in a weak steel production market environment.

Pre-tax profit slipped 19% to €200m, as restructuring and write-down expenses also took their toll.

The final dividend was cancelled to save cash and the company said it would reviewed later in the year once the outlook became clearer.

"The board believes this is an appropriate and prudent measure to take as it seeks to preserve RHI's strong liquidity, cash flow and financial position through these uncertain times," the company said.

"We have undertaken extensive scenario testing, factoring in a range of potential outcomes, which indicate that the company has sufficient liquidity to withstand an extended period of uncertainty."



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RHIM Market Data

Currency UK Pounds
Share Price 3,576.00p
Change Today 30.00p
% Change 0.85 %
52 Week High 3,694.00
52 Week Low 2,050.00
Volume 301
Shares Issued 47.13m
Market Cap £1,685.41m

RHIM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.39% above the market average76.39% above the market average76.39% above the market average76.39% above the market average76.39% above the market average
52.94% above the sector average52.94% above the sector average52.94% above the sector average52.94% above the sector average52.94% above the sector average
Price Trend
91.77% above the market average91.77% above the market average91.77% above the market average91.77% above the market average91.77% above the market average
94.29% above the sector average94.29% above the sector average94.29% above the sector average94.29% above the sector average94.29% above the sector average
Income
96.97% above the market average96.97% above the market average96.97% above the market average96.97% above the market average96.97% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
15.32% below the market average15.32% below the market average15.32% below the market average15.32% below the market average15.32% below the market average
21.21% below the sector average21.21% below the sector average21.21% below the sector average21.21% below the sector average21.21% below the sector average

What The Brokers Say

Strong Buy 4
Buy 2
Neutral 2
Sell 1
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

RHIM Dividends

  Latest Previous
  Final Interim
Ex-Div 16-May-24 24-Aug-23
Paid 13-Jun-24 22-Sep-23
Amount 125.00¢ 55.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
11:03 3 @ 3,576.00p
10:44 14 @ 3,564.00p
10:44 4 @ 3,556.00p
10:44 20 @ 3,556.00p
10:44 35 @ 3,556.00p

RHIM Key Personnel

CEO Stefan Borgas
Chair Herbert Cordt
CFO Ian Botha

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