RHI AG: Results of the First Quarter 2015
The increase in revenue compared with the first quarter of 2014 is primarily attributable to improvements in the product mix and positive currency effects. The operating EBIT amounted to EUR 34,5 million in the first quarter of 2015, versus EUR 34,1 million in the comparative period of 2014, but was lower than in the fourth quarter of 2014, at EUR 41,8 million. While the Steel and Industrial Division significantly increased their contribution to earnings compared with the first quarter of 2014, the Raw Materials Division recorded a considerable decline due to poor utilization of the raw material plants. The operating EBIT margin, at 8,1 % in the first quarter of 2015, was lower than in the comparative period of 2014, at 8,5 %, and lower than in the fourth quarter of 2014, at 9,0 %. The number of employees rose slightly from 8016 at the end of the year 2014 to 8079. Provided that the macroeconomic environment and exchange rates remain stable, the Management Board of the RHI Group expects an increase in revenue by roughly 3 % compared with the previous year and an operating EBIT margin of approximately 9 % for the full year 2015.