Low Leverage / Strong Balance SheetVery low leverage and a high equity ratio provide durable financial resilience. This lowers default and refinancing risk during industry cycles, preserves capacity for capital spending or working-capital needs, and supports long-term contracting with industrial customers.
Strong Cash GenerationConsistent free cash flow growth and strong conversion of net income into operating cash underpin financial flexibility. Reliable cash enables reinvestment in product solutions, maintenance capex, and working capital, supporting sustained operations across cycles.
Healthy Operating MarginsRobust gross and EBITDA margins indicate pricing power and operational efficiency in refractory manufacturing. Durable margins help absorb input cost swings, fund technical services and R&D, and sustain profitability even when end-market volumes are cyclical.