RHI delivered fire-proof performance in 2010, analysts say

Fireproofing products maker RHI AG’s earnings before interest and taxes (Ebit) could have been almost 150 per cent higher last year than in 2009, according to analysts.Market experts said today (Fri) that the Vienna-based firm – which will present its annual business performance figures next Tuesday – may have achieved Ebit of 134.5 million Euros in 2010, 145 per cent more than in the previous year when it was hit badly by the credit crunch.Analysts added that the company’s turnover could have soared by 22 per cent to 1.5 billion Euros at the same time.RHI’s annual earnings before interest, taxes, depreciation and amortisation (Ebitda) are estimated to range around 189 million Euros, up from 122.5 million Euros in 2009.Raiffeisen Centrobank (RCB) analysts stressed that RHI extended its capacities in China last year. They also pointed out that the firm successfully entered Russia. Experts at UniCredit said RHI did exceptionally well on the steel sector in the past year.RHI announced in November it was willing to increase its activities in China, Russia and India. The firm recently closed down plants in Chile and Canada.RHI – which is a global market leader in manufacturing fireproofing products but also provides the steel industry and chemistry businesses – has been quoted on the Vienna Stock Exchange (WBAG) since 1987. One share was valued at 26.70 Euros at 3pm today.