London-listed RHI Magnesita tops FTSE midcaps on robust outlook

RHI Magnesita

26/07/2023 14:00

**  London-listed shares of RHI Magnesita  RHIM.L  up as
much as 7% to 3,070p; top pct gainer on FTSE mid cap index
 .FTMC 
    ** Co sees FY adj EBITA margin between 10.5% and 11.5%; FY
adj EBITA including M&A of at least 360 mln euros, higher from
previous expectations, due to profitability in first half
    ** Posts HY adj EBITDA jump of 8% to 265 mln euros ($293.2
mln)
    ** HY revenue climbs 9% to 1,734 mln euros as higher pricing
and M&A contribution was able to offset lower sales volumes
    ** Says outlook for key end markets remains uncertain
    ** Shares up 29% YTD, as of last close

($1 = 0.9038 euros)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))