Full Year 2019 RHI Magnesita NV Earnings Call Transcript
Ladies and gentlemen, welcome to the RHI Magnesita call. My name is Kayla, and I will be your coordinator today. (Operator Instructions)
I will now hand over to your host, Stefan Borgas, to begin the call. Stefan, please go ahead.
Thank you, Kayla. And good morning from Vienna with a beautiful sunshine, but otherwise a very, very, very quiet city. I would like to present the 2019 RHI Magnesita results and then, of course, talk about where the future will bring our business.
Maybe in a summary, 4 messages upfront. 2019, in a very difficult market, turned out to be -- to deliver quite resilient results for RHI Magnesita on -- especially on profitability and earnings per share and free cash flow. Second, this ended our company -- this delivered a strong balance sheet for our company with a lower leverage than before and a very high level of liquidity, which gives us a good basis for the future. Third, we have a clear strategy that despite all of the very short-term effects from
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