RHI Magnesita NV (OTCPK:RMGNF)

$ 58.44612 0 (0%) Market Cap: 2.14 Bil Enterprise Value: 3.56 Bil PE Ratio: 12.40 PB Ratio: 1.66 GF Score: 80/100

Q3 2019 RHI Magnesita NV Trading Statement Call Transcript

Oct 24, 2019 / 07:00AM GMT

Release Date Price: $45.7

Transcript

Operator

Good morning, and welcome to the RHI Magnesita Q3 Trading Update. (Operator Instructions)

I would now like to hand over to Stefan Borgas, CEO, to begin. Stefan, please go ahead.

Stefan Borgas

RHI Magnesita N.V. - CEO & Executive Director

Thank you very much. Good morning, ladies and gentlemen around the world. Thanks for joining our conference call for the third quarter trading update of RHI Magnesita. I'd like to talk about the environment for a few minutes, then I'd like to talk about the effect of that environment on us, on RHI Magnesita. And then of course, I'd like to give you a little bit of an outlook for the next month.

What we have -- we have highlighted in August at our half year results update a number of issues that the business faces, and these issues are all in our Steel business. We said that our steel customers' end markets are experiencing lower volume demand in 2019, particularly in Europe. And this has accentuated during the third quarter, and it will get probably even more pronounced in the fourth quarter. That's what

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