Despite average industry cyclic conditions and the weak construction industry, RHI reported good results for the third quarter of 2002. In the first nine months of 2002, RHI Group increased EBIT (according to OeHGB) by 273% to 67.8 million Euros, as compared to the previous year. This increased operating result was realized despite the split from the U.S. refractories activities and the sale of Engineering, which entailed a 31% decline in sales revenues. With net income (according to OeHGB) of 35.2 million Euros, RHI has exceeded the targets set within the capital restructuring in the first nine months.
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