In the first three quarters of 2011, RHI Group increased revenues by 14.1% in comparison with the same period of the previous year.
The operating result amounts to €108.4 million, up approximately €1.1 million on the 2010 reference period. In the third quarter of 2011, revenues declined by 1.7% in comparison with the second quarter of 2011, due to the traditionally weaker steel business in the summer months and the seasonal effect in the cement industry.
The operating result dropped 2.0% to €39.2 million and the operating result margin of 9.1% is slightly below the figure of 9.2% in the second quarter.?? Compared with the reference quarter of 2010, revenues rose by 12.7% to €429.8 million in the third quarter of 2011.
The operating result of the third quarter, at €39.2 million, exceeds the level of the reference period of 2010 of € 32.8 million.??In September 2011, the equity ratio amounted to 24.5%, which corresponds to an increase by two percentage points on the second quarter of 2011.
Cash and cash equivalents declined from €86.6 million to €74.6 million, which was primarily due to the purchase consideration payments for the acquisitions in Norway and Ireland. At the same time, net debt rose from €346.9 million to €356.6 million.