RHI Struggles in Third Quarter
RHI AG recently announced revenues of €427.4 million (~ $571 million) in the third quarter, a decrease of 4% vs. the previous quarter. The operating result in the quarter amounted to €32.2 million (~ $42 million), and was reportedly burdened by technical problems in the newly constructed fusion plant in Norway totaling roughly €12 million (~ $16 million), as well as by negative currency effects.
For the full year 2013, RHI reportedly expects revenues to be slightly below the level of the previous year. The operating result margin is expected to fall significantly short of that of the year 2012 due to insufficient coverage of fixed costs resulting from low capacity utilization, negative currency effects and the abovementioned burden on the result in Norway.
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