Brazilian ferroalloys producer Ferbasa saw its net profit in Q4 surge over 280 percent, year-on-year, the company announced while releasing its quarterly and full-year results.
According to Ferbasa, net profit in Q4 2016 was BRL 72.3 million ($22.89 million), up from BRL 19 million in the same quarter of the year prior.
As for the full-year 2016, Ferbasa reported a BRL 70.2 million ($22.23 million) net profit, which was 59.6 percent down, year-on-year.
Net revenues in Q4 rose 13 percent, year-on-year, to BRL 282.9 million, while adjusted EBITDA grew 5.2 percent, year-on-year, in the same period to BRL 42.7 million. Ferbasa said EBITDA margin was 15.1 percent in Q4, down from 16.2 percent in Q4 2015.
The company said it produced 212,521 mt of ferroalloys in 2016, 18.8 percent down, year-on-year. As for Q4, it produced 52.848 mt of the product, 6.8 percent down, year-on-year.