Declared Dividend • May 20
Final dividend of €1.20 announced Dividend of €1.20 is the same as last year. Ex-date: 28th May 2026 Payment date: 11th June 2026 Dividend yield will be 5.7%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio). However, it is well covered by cash flows (32% cash payout ratio). The dividend has increased by an average of 12% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 9.9% to bring the payout ratio under control. EPS is expected to grow by 78% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • May 15
Rhi Magnesita N.V. Declares Final Dividend for the Financial Year Ended 31 December 2025 RHI Magnesita N.V. at its Annual General Meeting held on May 13, 2026, approved to declare a final dividend of €1.20 per share for the financial year ended 31 December 2025. Announcement • Mar 03
RHI Magnesita N.V. Recommends Final Dividend, Payable on June 11, 2026 RHI Magnesita N.V. Recommends final dividend of €1.20 per share, subject to AGM approval on May 13, 2026, the final dividend will be payable on 11 June 2026 to shareholders on the register at the close of trading on 29 May 2026. The ex-dividend date will be 28 May 2026. Announcement • Dec 09
RHI Magnesita N.V., Annual General Meeting, May 13, 2026 RHI Magnesita N.V., Annual General Meeting, May 13, 2026. Announcement • Nov 08
RHI Magnesita N.V. Announces Directorate Changes RHI Magnesita N.V. announced that Yasmin-Sarah Solmazer has been appointed as an Employee Representative Director of the Board, with effect from 1 January 2026, for a four-year term in accordance with the Company's Articles of Association. Yasmin-Sarah Solmazer replaces Michael Schwarz, who is stepping down from his role as an Employee Representative Director. Announcement • Jul 31
RHI Magnesita N.V. Declares Interim Dividend for the First Half of 2025, Payable on 25 September 2025 RHI Magnesita N.V. Board has declared an interim dividend of €0.60 per share representing €28 million in aggregate. The interim dividend will be paid on 25 September 2025 to shareholders on the register on 29 August 2025. Announcement • May 09
RHI Magnesita N.V. Approves Final Dividend for the Financial Year Ended 31 December 2024 RHI Magnesita N.V. announced that at the AGM held on 7 May 2025, approved to declare a final dividend of €1.20 per share for the financial year ended 31 December 2024. Announcement • Mar 01
RHI Magnesita N.V. Recommends Final Dividend for the Year 2024, Payable on 12 June 2025 RHI Magnesita N.V. announced that the Board has recommended a final dividend of €1.20 per share for the full financial year, and €85 million in aggregate. This represents a dividend cover of 3.0x Adjusted earnings per share. Subject to approval at the AGM scheduled for 7 May 2025, the final dividend will be payable on 12 June 2025 to shareholders on the register at the close of trading on 23 May 2025. The ex-dividend date will be 22 May 2025. Together with the interim dividend of €0.60 per share paid on 26 September 2024, the recommended final dividend represents a full year dividend of €1.80 per share in respect of the 2024 financial year. Announcement • Jan 29
RHI Magnesita N.V. (LSE:RHIM) completed the acquisition of Resco Products, Inc. from Balmoral Funds LLC for approximately $340 million. RHI Magnesita N.V. (LSE:RHIM) has entered into a definitive agreement to acquire Resco Products, Inc. from Balmoral Funds LLC for approximately $340 million on March 29, 2024. The cash consideration for the Acquisition is expected to be approximately $324 million (with an upper cap of approximately $342 million if completion extends 18 months beyond signing) and will be funded by RHI Magnesita's existing liquidity, together with a new committed facility of €200 million. Resco recorded unaudited revenues of $252 million in the year to 31 December 2023, with Profit before Tax of $20 million and had Gross Assets of $191 million at 31 December 2023. The acquisition is subject to customary closing conditions including merger control authority approval and Antitrust approval and and expected to complete in late H2 2024 or early 2025. Jefferies LLC served as exclusive financial advisor to Resco Products, Inc and Vedder Price served as legal advisor to Resco Products, Inc. A&O served as RHI Magnesita's legal advisor.
RHI Magnesita N.V. (LSE:RHIM) completed the acquisition of Resco Products, Inc. from Balmoral Funds LLC on January 28, 2025. Announcement • Jan 27
RHI Magnesita N.V., Annual General Meeting, May 07, 2025 RHI Magnesita N.V., Annual General Meeting, May 07, 2025. Announcement • Oct 30
RHI Magnesita N.V. to Report First Half, 2025 Results on Jul 30, 2025 RHI Magnesita N.V. announced that they will report first half, 2025 results on Jul 30, 2025 Upcoming Dividend • Aug 22
Upcoming dividend of €0.60 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 26 September 2024. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.4%). Declared Dividend • Jul 26
First half dividend increased to €0.60 Dividend of €0.60 is 9.1% higher than last year. Ex-date: 29th August 2024 Payment date: 26th September 2024 Dividend yield will be 4.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 16% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 52% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 25
First half 2024 earnings released: EPS: €2.15 (vs €1.71 in 1H 2023) First half 2024 results: EPS: €2.15 (up from €1.71 in 1H 2023). Revenue: €1.73b (flat on 1H 2023). Net income: €101.6m (up 26% from 1H 2023). Profit margin: 5.9% (up from 4.6% in 1H 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year. Announcement • Jul 24
RHI Magnesita N.V. Declares Interim Dividend for the First Half of 2024, Payable on 26 September 2024 RHI Magnesita N.V. declared an interim dividend of €0.60 per share for the first half of 2024, representing €28 million in aggregate. The interim dividend will be paid on 26 September 2024 to shareholders on the register on 30 August 2024. Announcement • Jun 06
RHI Magnesita N.V. to Report Fiscal Year 2024 Results on Feb 27, 2025 RHI Magnesita N.V. announced that they will report fiscal year 2024 results on Feb 27, 2025 Upcoming Dividend • May 09
Upcoming dividend of €1.25 per share Eligible shareholders must have bought the stock before 16 May 2024. Payment date: 13 June 2024. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.3%). Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: €3.50 (vs €3.31 in FY 2022) Full year 2023 results: EPS: €3.50 (up from €3.31 in FY 2022). Revenue: €3.57b (up 7.7% from FY 2022). Net income: €164.6m (up 5.7% from FY 2022). Profit margin: 4.6% (down from 4.7% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • Feb 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (73% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (4.0% net profit margin). Announcement • Oct 05
RHI Magnesita N.V. (LSE:RHIM) acquired Refractory businesses of the Preiss-Daimler Group for approximately €45 million. RHI Magnesita N.V. (LSE:RHIM) acquired Refractory businesses of the Preiss-Daimler Group for approximately €45 million on October 3, 2023. The cash consideration for the acquisition is to be funded by RHI Magnesita's existing committed and undrawn facilities and cash. The acquisition offers multiple growth opportunities, not the least through enabling RHI Magnesita to offer a significantly expanded product and service portfolio to an extended customer base. Customers of P-D Refractories comprise a large range of customers in process industries, especially glass and aluminium industry. Through the acquisition, four production facilities (in Germany and the Czech Republic) and two raw material mines (in the Czech Republic and Slovenia) are added to the global production network of RHI Magnesita.
RHI Magnesita N.V. (LSE:RHIM) completed the acquisition of Refractory businesses of the Preiss-Daimler Group on October 3, 2023. Announcement • Sep 19
RHI Magnesita N.V. to Report Q3, 2023 Results on Oct 18, 2023 RHI Magnesita N.V. announced that they will report Q3, 2023 results on Oct 18, 2023 Upcoming Dividend • Aug 17
Upcoming dividend of €0.55 per share at 4.7% yield Eligible shareholders must have bought the stock before 24 August 2023. Payment date: 22 September 2023. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.3%). Reported Earnings • Jul 28
First half 2023 earnings released: EPS: €1.71 (vs €2.06 in 1H 2022) First half 2023 results: EPS: €1.71 (down from €2.06 in 1H 2022). Revenue: €1.73b (up 8.8% from 1H 2022). Net income: €80.6m (down 17% from 1H 2022). Profit margin: 4.6% (down from 6.1% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 01
Upcoming dividend of €1.10 per share at 5.5% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 06 July 2023. Payout ratio is a comfortable 48% and the cash payout ratio is 91%. Trailing yield: 5.5%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €29.50, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Basic Materials industry in Europe. Total returns to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €40.00 per share. Announcement • May 25
Rhi Magnesita N.V. Approves Final Dividend for the Financial Year Ended 31 December 2022 RHI Magnesita N.V. approved final dividend of €1.10 per share for the financial year ended 31 December 2022 at its annual general meeting held on 24 May 2023. Buying Opportunity • Feb 28
Now 22% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be €38.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 40%. For the next 3 years, revenue is forecast to grow by 0.3% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: €3.31 (vs €5.10 in FY 2021) Full year 2022 results: EPS: €3.31 (down from €5.10 in FY 2021). Revenue: €3.32b (up 30% from FY 2021). Net income: €155.7m (down 36% from FY 2021). Profit margin: 4.7% (down from 9.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 7.1% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jan 15
RHI Magnesita N.V. (LSE:RHIM) agreed to acquire 65% stake in Jinan New Emei Industries Co. Ltd. for ¥293 million on January 13, 2023. RHI Magnesita N.V. (LSE:RHIM) agreed to acquire 65% stake in Jinan New Emei Industries Co. Ltd. for ¥293 million on January 13, 2023. Under the terms of the Acquisition 80% of the initial consideration is payable on completion of the Acquisition and the remaining 20% of the initial consideration is payable on the first anniversary of completion of the Acquisition. The transaction is subject to competition authority clearance. The Acquisition will be funded from RHI Magnesita's existing committed and undrawn debt facilities and cash. Jinan New Emei recorded profit before tax of ¥33 million for the year ended December 31, 2021. The transaction is expected to close in first half of 2023. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improved over the past week After last week's 16% share price gain to €25.30, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Basic Materials industry in Europe. Total loss to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 16% share price gain to €21.80, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Basic Materials industry in Europe. Total loss to shareholders of 39% over the past three years. Upcoming Dividend • Aug 18
Upcoming dividend of €0.50 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 23 September 2022. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 6.4%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (4.0%). Reported Earnings • Aug 02
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €97.1m from profit in 1H 2021). Profit margin: (down from 8.1% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 6.1%, compared to a 5.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 19
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 26 May 2022. Payment date: 14 June 2022. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.4%). Higher than average of industry peers (3.9%). Recent Insider Transactions • Mar 05
CEO & Executive Director recently bought €99k worth of stock On the 2nd of March, Stefan Borgas bought around 3k shares on-market at roughly €32.46 per share. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of €203k worth in shares. Reported Earnings • Mar 01
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €5.10 (up from €0.51 in FY 2020). Revenue: €2.55b (up 13% from FY 2020). Net income: €243.1m (up €218.3m from FY 2020). Profit margin: 9.5% (up from 1.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.9%. Over the next year, revenue is forecast to grow 10%, compared to a 7.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 13% per year. Recent Insider Transactions • Oct 20
CEO & Executive Director recently bought €93k worth of stock On the 19th of October, Stefan Borgas bought around 3k shares on-market at roughly €36.95 per share. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of €103k worth in shares. Upcoming Dividend • Aug 19
Upcoming dividend of €0.50 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 14 September 2021. Trailing yield: 3.3%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (2.7%). Reported Earnings • Jul 30
First half 2021 earnings released: EPS €2.02 (vs €1.03 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €1.20b (up 2.5% from 1H 2020). Net income: €97.1m (up 93% from 1H 2020). Profit margin: 8.1% (up from 4.3% in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Executive Departure • Jun 15
Independent Non-Executive Director Andrew Hosty has left the company On the 11th of June, Andrew Hosty's tenure as Independent Non-Executive Director ended after 3.7 years in the role. As of March 2021, Andrew still personally held only 389.00 shares (€19k worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.79 years. Executive Departure • Jun 15
Independent Non-Executive Director Celia Baxter has left the company On the 11th of June, Celia Baxter's tenure as Independent Non-Executive Director ended after 3.7 years in the role. As of March 2021, Celia still personally held 1.00k shares (€48k worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.79 years. Upcoming Dividend • Jun 03
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 10 June 2021. Payment date: 30 June 2021. Trailing yield: 3.8%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.7%). Reported Earnings • Mar 09
Full year 2020 earnings released: EPS €0.51 (vs €2.82 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €2.26b (down 23% from FY 2019). Net income: €24.8m (down 82% from FY 2019). Profit margin: 1.1% (down from 4.8% in FY 2019). Analyst Estimate Surprise Post Earnings • Mar 09
Revenue misses expectations Revenue missed analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 7.9%, compared to a 6.4% growth forecast for the Basic Materials industry in Germany. Is New 90 Day High Low • Feb 13
New 90-day high: €45.70 The company is up 34% from its price of €34.18 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €91.83 per share. Is New 90 Day High Low • Jan 20
New 90-day high: €42.55 The company is up 37% from its price of €31.04 on 22 October 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €115 per share. Is New 90 Day High Low • Dec 29
New 90-day high: €39.02 The company is up 48% from its price of €26.36 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €113 per share. Is New 90 Day High Low • Dec 10
New 90-day high: €37.68 The company is up 22% from its price of €30.90 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €61.75 per share. Is New 90 Day High Low • Nov 11
New 90-day high: €32.50 The company is up 7.0% from its price of €30.26 on 13 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €55.25 per share. Is New 90 Day High Low • Sep 30
New 90-day low: €26.80 The company is down 3.0% from its price of €27.68 on 02 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €61.03 per share. 
