RHI Magnesita N.V. 2020 Annual Bonus metrics (4881N)
20 Mayo 2020 - 4:51AM
UK Regulatory
TIDMRHIM
RNS Number : 4881N
RHI Magnesita N.V.
20 May 2020
RHI Magnesita N.V.
("RHI Magnesita" or the "Company")
2020 Annual Bonus metrics
RHI Magnesita N.V. (the "Company") today announces the metrics
for the 2020 Annual Bonus (the "2020 Bonus"), which supplements the
disclosures in the Remuneration Committee Report (the "Report") in
the Annual Report & Accounts 2019. This Report is available on
the Company's website at www.rhimagnesita.com .
Given the uncertainty surrounding the impact of COVID-19 for
both the Company and broader economic conditions, the Board of
Directors was unable to finalise the 2020 Bonus metrics when the
Report was published on 1 April 2020.
The agreed 2020 Bonus metrics reflect a simplified bonus
structure compared to 2019. The synergy metric is no longer
relevant since completion of the merger integration in 2019 and the
strategic deliverable objectives have been removed to focus, in a
challenging economic environment, on the two key financial
performance measures of Adjusted EBITA and Operating Cash flow, to
be weighted 60% and 40% respectively.
As in previous years, the 2020 Bonus targets and performance
against them will be disclosed retrospectively in the 2020
Remuneration Report, provided they are not considered to be
commercially sensitive at that time. The Remuneration Committee
retains the overarching discretion to adjust, if appropriate, the
formulaic outturn of the Annual Bonus.
For further enquiries, please contact:
Guy Marks, Head of Investor Relations
Tel +44 7932 013 357
E--mail: guy.marks@rhimagnesita.com
About RHI Magnesita
RHI Magnesita is the leading global supplier of high-grade
refractory products, systems and solutions which are indispensable
for industrial high-temperature processes exceeding 1,200degC in a
wide range of industries, including steel, cement, non-ferrous
metals and glass. With a vertically integrated value chain, from
raw materials to refractory products and full performance-based
solutions, RHI Magnesita serves customers in nearly all countries
around the world. The Company has a high level of geographic
diversification with around 14,000 employees in 35 main production
sites and more than 70 sales offices around the world. RHI
Magnesita intends to leverage its global leadership in terms of
revenue, scale, product portfolio and diversified geographic
presence to target strategically those countries and regions
benefitting from more dynamic economic growth prospects.
Its shares have a premium listing on the London Stock Exchange
(symbol: RHIM) and are a constituent of the FTSE 250 index. For
more information please visit: www.rhimagnesita.com
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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