RHI Magnesita NV (OTCPK:RMGNF)

$ 58.44612 0 (0%) Market Cap: 1.90 Bil Enterprise Value: 3.16 Bil PE Ratio: 10.05 PB Ratio: 1.48 GF Score: 77/100

Q3 2023 RHI Magnesita NV Trading Statement Call Transcript

Oct 31, 2023 / 08:15AM GMT

Release Date Price: $58.45

Transcript

Stefan Borgas

RHI Magnesita N.V. - CEO & Executive Director

Good morning from Vienna on this nice autumn day. We would like to give you an update about Q3 Trading at RHI Magnesita around the world. And let me start with the first -- with the 3 key messages from the events of the third quarter.

First message, trading in the third quarter has been solid. We are raising our EBITA guidance for 2023. Volumes are still weak, but they are aligned with the original guidance for 2023, that means around 5% lower volume this year compared to last year, which in our business is actually significant. Pricing has been resilient and is the main driver to balance out this volume weakness, all right. And to complete this trading key message, the 2023 EBITA guidance is now at least EUR 380 million from EUR 360 million minimum achievement previously guided.

Second key message, what were the actions that we took to get there? We are navigating this period of weaker demand better than in previous downturns because we have become a more agile business. We have invested into our network over the past

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