RHI Magnesita sees decline in revenues and profit before taxes for full-year 2020

RHI Magnesita sees decline in revenues and profit before taxes for full-year 2020

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Global refractories producer RHI Magnesita, a company made up of Brazil’s Magnesita and Austria-based RHI, posted weaker year-over-year results in full-year 2020, the company said.

Net revenues in full-year 2020 fell 23 percent, year-over-year, to EUR 2.25 billion. The company’s profit before taxes in full-year 2020 declined 79 percent, year-over-year, to EUR 42 million.

The company said the same trend was seen on its steel division business, which posted revenues of EUR 1.58 billion in full-year 2020, 22 percent down, year-over-year. Gross profit at the steel division was EUR 371 million in full-year 2020, 20 percent down, year-over-year.

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