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Rath AG

Rath AG

VVIE:RAT
24.40
EUR
+5.40
(+28.42%)
37.50MMarket Cap
Rath AG
VIE:RAT
(Vienna Stock Exchange)

Recent

price

24.40

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
EUR
49.91
54.45
57.78
52.94
51.63
54.62
53.54
57.56
62.99
66.71
57.59
65.23
78.4
81.19
74.23
62.84
- -
Revenue per Share
0.13
1.53
0.39
-0.08
1.91
2.74
2.63
1.58
3.91
2.47
-1.66
2.88
2.81
3.55
-0.93
-5.88
- -
Basic EPS, GAAP
2.71
-0.02
-2.59
-0.25
1.63
3.18
0.18
6.77
8.95
-1.35
9.41
-2.55
0.92
4.26
-3.7
-0.62
- -
Free Cash Flow per Basic Share
- -
- -
0.3
- -
- -
0.5
0.5
0.75
0.75
1
- -
0.33
0.33
1.3
1
- -
- -
Dividend per Share
21.79
23.16
22.73
22.44
24.32
26.58
28.73
29.32
32.23
33.49
31.55
33.93
36.07
38.15
35.95
29.55
35.95
Book Value per Share
21.37
22.9
22.55
22.2
23.99
26.3
28.46
29.06
31.8
30.06
28.68
31.04
33.05
34.97
32.52
26.15
32.52
Tangible Book Value per Share
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
Basic Weighted Avg Shares
75
82
87
79
77
82
80
86
94
100
86
98
118
122
111
94
- -
Sales/Revenue/Turnover
3.64
4.82
2.52
1.85
6.04
7.13
6.89
7.83
9.17
7.28
2.32
5.56
4.7
7.42
-0.27
-5.88
- -
Operating Margin (%)
4
4
4
4
4
4
4
4
4
6
7
6
7
6
7
6
- -
Depreciation Expense
- -
2
1
- -
3
4
4
2
6
4
-2
4
4
5
-1
-9
- -
Net Income, GAAP
87.02
23.2
31.16
- -
42.87
36.79
16.15
17.99
28.23
38.36
- -
33.19
17.92
31.33
- -
- -
- -
Effective Tax Rate (%)
0.25
2.81
0.68
-0.15
3.7
5.02
4.91
2.75
6.21
3.7
-2.88
4.41
3.59
4.37
-1.25
-9.36
- -
Profit Margin (%)
4
3
- -
2
6
12
15
47
48
35
33
22
51
49
40
35
40
Working Capital
- -
7
5
5
1
6
1
1
37
37
36
23
46
43
44
49
44
LT Debt
33
35
34
34
36
40
43
44
48
50
47
51
54
57
54
44
54
Total Equity
0.84
5.34
2.39
- -
4.1
5.47
6.41
9.33
8.99
4.51
- -
3.73
4.2
6.5
- -
- -
- -
Return on Invested Capital (%)
1.07
5.79
2.22
- -
5.45
7.23
7.04
5.67
9.63
4.7
- -
5.32
5.1
6.39
- -
- -
- -
Return on Capital (%)
0.59
6.8
1.72
-0.35
8.16
10.78
9.51
5.44
12.7
7.52
-5.09
8.78
8.04
9.56
-2.5
-17.96
- -
Return on Common Equity (%)

Capital Structure

EUR

•

in mil. unless spec.
Dec'23
Jun'24
Dec'24
ST Debt
6
6
4
LT Borrowings
41
40
43
LT Finance Leases
2
2
2
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2
2
2
Market Capitalization
41
42
38

Working Capital

EUR

•

in mil. unless spec.
Dec'23
Jun'24
Dec'24
Total Current Assets
78
71
62
Cash, Cash Equivalents & STI
22
11
9
Accounts Receivable, Net
15
15
17
Inventories
29
29
26
Total Current Liabilities
29
27
21
Payables & Accruals
- -
- -
- -
ST Debt
6
6
4
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.42%
-0.79%
-17.79%
Free Cash Flow
243.04%
-34.6%
-83.15%
Net Income, GAAP
5.75%
31.61%
533.91%
Sales/Revenue/Turnover
2.03%
2.62%
-15.34%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
122
2024
- -
- -
111
2025
- -
- -
94

Semi-annual Earnings Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
3.55
2024
- -
- -
-0.93
2025
- -
- -
-5.88

Semi-annual Dividends Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
1.3
2024
- -
- -
1
2025
- -
- -
- -
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Business
RATH AG is a leading international manufacturer of refractory products and solutions, specializing in high-performance refractory materials for industries including steel, glass, ceramics, aluminum, petrochemical, and energy sectors. The company produces dense refractory bricks, monolithics, pre-cast blocks, insulating fire bricks, high-temperature insulation wool, vacuum-formed shapes, continuous oxide ceramic fibers, refractory mortars, adhesives, plasters, and custom refractory systems geared towards high-temperature industrial applications. RATH also develops innovative hot gas filter elements that help reduce industrial emissions and improve energy efficiency in glass, cement, and biofuels industries. Founded in 1898 and headquartered in Vienna, Austria, RATH operates globally with significant production facilities and has recently expanded its manufacturing footprint. In recent major developments, RATH AG acquired a 33% stake in Avanee Refsol Private Limited in India in early 2024 as part of its Evolution 2030+ strategic growth plan. This acquisition supports the establishment of a new production site in Visakhapatnam, India, with an annual production capacity projected at 20,000 tons of refractory products, marking a key milestone in its international expansion. Additionally, in November 2024, RATH announced a long-term technology alliance with REFRATECHNIK, aiming to enhance innovation and market position in refractory technologies. The company has also introduced advanced products such as ALTRA FLEX®, a continuous oxide ceramic fiber for temperature-resistant fabrics and composite materials, reinforcing its leadership in ceramic material innovation. Despite these growth initiatives, RATH AG forecasted a decline in earnings before interest and taxes (EBIT) for 2025 due to challenging market conditions, prompting the initiation of a comprehensive cost reduction program. The company's operations span Europe, India, and other global markets, targeting industrial clients requiring refractory linings and specialized refractory solutions tailored to high-temperature applications. RATH maintains a broad product portfolio covering standard and customized materials to optimize production efficiency, environmental performance, and sustainability for its customers. The company is listed on the Vienna Stock Exchange under the ticker RAT.VI.