RHI Magnesita is the undisputed global leader in providing high-grade refractory products, systems, and services essential for high-temperature industrial processes exceeding 1,200°C. The company serves critical sectors such as steel, cement, glass, and non-ferrous metals industries. RHI Magnesita N.V. offers a comprehensive portfolio, ranging from raw materials to complete performance-based solutions.
Listed on the London Stock Exchange and a constituent of the FTSE 250 Index, RHI Magnesita strategically drives the global refractory industry. Its leadership is underpinned by operational excellence and a history of strategic acquisitions.
RHI Magnesita operates with a highly vertically integrated value chain, spanning from raw material extraction to the production of refractory products and the delivery of full performance-based solutions. This global enterprise employs over 20,000 individuals across 65 main production sites (including raw material facilities), 12 recycling facilities, and more than 70 sales offices worldwide. This extensive global network enables the company to implement an effective "local for local" production strategy.
The company provides specialized solutions tailored for various industries:
- Steel Industry: Offers a complete product and service portfolio for all steel industry processes, from reduction and steelmaking to reheating furnaces and ingot casting.
- Cement Industry: Delivers a full-service portfolio for the cement process, utilizing products such as magnesia spinel, dolomite, dolomite-magnesia, magnesia-chrome, high alumina, alumina silicate, and mortars.
RHI Magnesita possesses one of the world's most vertically integrated structures within the refractory industry, sourcing its raw materials from its own mines. This self-sufficiency ensures autonomy and quality control, establishing the company as a premier supplier of primary materials. Such vertical integration provides significant competitive advantages, including enhanced cost control, superior quality assurance, and robust supply chain security.
The company's market leadership is continually strengthened through strategic acquisitions. In January 2025, RHI Magnesita successfully completed the €391 million acquisition of the US-based Resco Group, bringing its total M&A transaction value since December 2021 to €1.2 billion. This acquisition marks a significant expansion into the high-value North American market.
RHI Magnesita has demonstrated resilient financial performance amidst challenging market conditions. For the year ended December 31, 2024, the company reported stable Adjusted EBITA of €407 million (2023: €409 million) despite a falling price environment, and improved its Adjusted EBITA margin to 11.7% (2023: 11.4%).
Key financial metrics for 2024:
- Revenue: €3.62 billion (2023: €3.94 billion)
- Adjusted EBITA: €407 million (2023: €409 million)
- Adjusted EBITA Margin: 11.7% (2023: 11.4%)
- Adjusted EPS: Increased to €5.32 (2023: €4.98)
- Cash Generation: Strong cash generation of 103%, contributing to a €52 million reduction in net debt to €1,251 million.
Including the interim dividend of €0.60 per share paid on September 26, 2024, the recommended final dividend results in a full-year dividend of €1.80 per share for the 2024 financial year.
Sustainability is a core tenet for RHI Magnesita, encompassing economic prosperity, social responsibility, and environmental stewardship. The company aims to be a leader in sustainability within the global refractory industry. Significant progress has been made in recycling and environmental responsibility; the recycling rate increased to 13.2% (from 13.0% in H1 2023), moving towards its revised target of 15.0% by 2025.
Since 2019, RHI Magnesita's recycling activities and use of secondary raw materials have directly averted over 1 million tonnes of CO2 emissions. The company's commitment to sustainability is further underscored by its partnership with MCi Carbon for carbon capture and utilization technologies, with plans to deploy this technology in Europe by 2028.
RHI Magnesita's Indian subsidiary, RHI Magnesita India Limited, holds a significant market presence in the region. It is publicly listed on both the National Stock Exchange of India and the Bombay Stock Exchange. RHI Magnesita India has a market capitalization of ₹9,869 crore, with revenue of ₹3,674 crore and a profit of ₹203 crore as of the latest available data. The Indian subsidiary is the leading global manufacturer and supplier of high-grade refractory products, systems, and solutions, commanding a 30% market share in India.
The company's Indian operations have demonstrated resilience, maintaining strong market leadership and exhibiting continued growth potential within India's expanding industrial sector.
