Investor Presentaiton
Steel business overview
Resilient gross margin, pricing maintained and unit costs stable
Revenue
€m
1.2
21.6%
22.0%
22.3%
4%
2,461
2,371
1,823
2021
2022
2023
Investor Presentation | March 2024
RHI MAGNESITA
• Including M&A, steel revenue increased by 4% to €2,461
million (+6% in constant currency)
Steel sales volumes excluding M&A reduced by 3%
-
-
-
WSA global steel production excluding China, Iran and
Russia reduced by c.1%
Some destocking of refractories by customers
Careful management of production volumes to match
customer demand and inventory coverage
Group steel gross margin 30bps higher compared to 2022
-
Lower input costs balanced by fixed cost "under-
absorption"
Pricing resilient despite lower input costs for 'cost plus'
competitors
Gross margin (%)
Revenue
-
1. Denoted on a reported basis
2. Excludes recycling
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