RHI 1Q revenue up y/y

RHI Group has reported revenue of €424.1 million in 1Q15, up y/y but down q/q. At €34.5 million, operating EBIT in 1Q15 was higher than the €34.1 million achieved in 1Q14, but lower than the €41.8 million achieved in 4Q14. The Steel and Industrial Divisions increased their contribution to earnings compared with 1Q14, but the Raw Materials Division saw a decline due to poor utilisation of the raw material plants.

Net cash flow from operating activities is characterised by an increase in working capital and amounted to €21.8 million in the past quarter. Net cash flow from investing activities amounted to €(9.4) million. Consequently, free cash flow totalled €12.4 million in the first quarter of 2015.

The number of employees rose slightly from 8016 at the end of 2014 to 8079.

In 2015, provided that the macroeconomic environment and exchange rates remain stable, the Management Board of RHI Group expects revenue to increase by approximately 3% compared to 2014. Due to the current order situation of the Industrial Division, a significant increase in revenue is expected for 2Q15.

Adapted from press release by Katherine Guenioui

Read the article online at: https://www.worldcement.com/europe-cis/15052015/rhi-1q-revenue-up-year-on-year-843/