Investor Presentaiton
Strong cash flow generation in 2023
RHI MAGNESITA
Adjusted operating cash flow of €413 million driven by strong profitability and working capital
release
Adjusted operating cash flow and Cash Conversion
Net debt bridge
€m
€m¹
102%
88%
111%
101%
40%
-84%
438
359
290
H1: €(84)m
H2: €239m
155
413
1,163
258
8-
78
30
29
88
100
1,304
325
M&A Net debt impact
€314m
Working capital increase
-236
Net Debt
FY 2022
2018
2019
2020
2021
2022
2023
RHIM Dividends
Group
FCF
Others2 M&A M&A Net
Consideration Debt
M&A
Working
Capital
M&A CF
India
Equity
Raise
Net Debt
FY 2023
Investor Presentation | March 2024
1.
2.
2018 through 2021 adjusted operating cashflow metric based on definition used in the year of reporting
Others include: FX €1 million. Right of use assets €15m plus others €(9)million
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