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1. Company Snapshot

1.a. Company Description

RHI Magnesita N.V., together with its subsidiaries, develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide.It offers magnesia spinel, dolomite, dolomite-magnesia, magnesia-chrome, alumina, alumina silicate, and mortars for the cement industry; shaped products based on silicon carbide, magnesia, zirconium, fireclay, and alumina; unshaped refractories; and high-temperature insulation, and ceramic and metallic anchoring systems.The company also provides induction and electric arc furnaces, AOD converters, dome and delta, ladles, isostatically pressed products, and slide gates.


In addition, the company offers zircon-magnesia, mullite /andalusite, chrome-alumina, zircon, silica, and calcium aluminate materials.Further, the company provides high-purity magnesia and magnesia-chromite bricks, magnesia-carbon bricks, concrete with anti-wetting system, ceramic and metal anchors, sense and insulating concretes, ramming mixes, and low cement castables, as well as precast shapes, alumina-silica, insulating monolithic parts; and monolithic products.Additionally, it provides raw, caustic, and sintered magnesia, dolomite and sintered dolomite, slag conditioners, magnesium oxide, spinels, agalmatolite, chromite, grogs, and commodities.


The company also offers electromechanical maintenance, repairs, assemblies, refractory maintenance and application; solutions development and monitoring; engineering, projects, lining, and metal working factory services.In addition, it provides iron, steel, continuous casting, and non-ferrous solutions.RHI Magnesita N.V. offers solutions for various ladles, tundish, hydraulical or electrical power, steel plant aggregates, and robotic handling sectors.


The company was founded in 1834 and is headquartered in Vienna, Austria.

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1.b. Last Insights on RHIM

RHI Magnesita N.V. benefited from a favorable market environment, as optimism surrounding the US shutdown boosted investor sentiment. The FTSE 100 Index reached a new high, closing up 1.1% at 7,432. Notable developments include investor optimism. Recent earnings releases showed the company navigating complex business conditions. Aided by constructive market dynamics, the company capitalizes on growth opportunities. According to recent market data, investor confidence was reinforced.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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FTSE 100 at new high amid US shutdown optimism

Nov -10

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3 UK Dividend Stocks To Consider With Up To 5.9% Yield

Jul -31

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Should You Think About Buying RHI Magnesita N.V. (LON:RHIM) Now?

Jul -06

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RHI Magnesita and BPI, Inc. Announce Strategic Joint Venture to Accelerate Circular Economy Initiatives in North America

Jun -27

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RHI Magnesita N.V. (LON:RHIM) is definitely on the radar of institutional investors who own 47% of the company

Jun -19

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RHI Magnesita India Ltd (BOM:534076) Q4 2025 Earnings Call Highlights: Navigating Market ...

May -29

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Should Income Investors Look At RHI Magnesita N.V. (LON:RHIM) Before Its Ex-Dividend?

May -17

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Is There An Opportunity With RHI Magnesita N.V.'s (LON:RHIM) 39% Undervaluation?

May -14

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.62%)

6. Segments

Steel

Expected Growth: 6%

RHI Magnesita N.V.'s 6% growth in Steel segment is driven by increasing demand from automotive and construction industries, coupled with rising steel production in Asia, particularly in China and India. Additionally, the company's focus on innovative and sustainable products, such as eco-friendly refractories, contributes to its growth momentum.

Industrial

Expected Growth: 8%

RHI Magnesita N.V.'s Industrial segment growth of 8% is driven by increasing demand for refractory products in the steel and cement industries, coupled with the company's expanding presence in emerging markets, particularly in Asia. Additionally, the company's focus on innovation and sustainability, as well as its strategic acquisitions, have contributed to its growth momentum.

7. Detailed Products

Basic Refractories

RHI Magnesita's basic refractories are used in steel production, cement, lime, and other industries where high-temperature resistance is required.

Dolomite Refractories

Dolomite refractories are used in steel production, particularly in the production of stainless steel and other high-alloy steels.

Magnesia Refractories

Magnesia refractories are used in steel production, cement, and other industries where high-temperature resistance and corrosion resistance are required.

Chrome Refractories

Chrome refractories are used in steel production, particularly in the production of stainless steel and other high-alloy steels.

Special Refractories

Special refractories are used in various industries such as glass, ceramics, and petrochemicals where high-temperature resistance and corrosion resistance are required.

Refractory Insulation

Refractory insulation is used to reduce heat loss and improve energy efficiency in various industries such as steel, cement, and glass.

Refractory Maintenance and Repair

RHI Magnesita provides maintenance and repair services for refractory linings and other equipment.

8. RHI Magnesita N.V.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for RHI Magnesita N.V. is medium due to the availability of alternative materials and technologies that can replace refractory products in certain applications.

Bargaining Power Of Customers

The bargaining power of customers is low due to the specialized nature of RHI Magnesita N.V.'s products and the lack of alternative suppliers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the concentration of suppliers in the raw materials market and the company's dependence on certain critical raw materials.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the refractory industry, including the need for significant capital investment and specialized expertise.

Intensity Of Rivalry

The intensity of rivalry is high due to the competitive nature of the refractory industry, with several established players competing for market share.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 62.48%
Debt Cost 6.57%
Equity Weight 37.52%
Equity Cost 11.48%
WACC 8.41%
Leverage 166.53%

11. Quality Control: RHI Magnesita N.V. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Odfjell

A-Score: 6.8/10

Value: 8.5

Growth: 7.7

Quality: 6.2

Yield: 9.4

Momentum: 6.5

Volatility: 2.7

1-Year Total Return ->

Stock-Card
Mennica Polska

A-Score: 6.1/10

Value: 4.7

Growth: 5.2

Quality: 6.2

Yield: 6.2

Momentum: 9.0

Volatility: 5.0

1-Year Total Return ->

Stock-Card
Belships

A-Score: 5.9/10

Value: 6.8

Growth: 6.0

Quality: 6.2

Yield: 7.5

Momentum: 6.0

Volatility: 3.0

1-Year Total Return ->

Stock-Card
RHI Magnesita

A-Score: 4.4/10

Value: 7.0

Growth: 5.8

Quality: 2.5

Yield: 8.8

Momentum: 0.5

Volatility: 2.0

1-Year Total Return ->

Stock-Card
NORMA

A-Score: 3.9/10

Value: 6.9

Growth: 3.1

Quality: 3.2

Yield: 3.8

Momentum: 5.0

Volatility: 1.7

1-Year Total Return ->

Stock-Card
Sif Holding

A-Score: 3.1/10

Value: 9.4

Growth: 2.8

Quality: 1.8

Yield: 0.6

Momentum: 0.0

Volatility: 4.0

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

29.3$

Current Price

29.3$

Potential

-0.00%

Expected Cash-Flows