Brazilian ferroalloys producer Ferbasa reverted a BRL 21.3 million ($6.6 million) net loss in Q2 2016 and posted a BRL 63.8 million ($20 million) net profit in Q2 this year, the company said while releasing its quarterly results.
Net revenues in Q2 rose 1.4 percent, year-on-year, to BRL 270.6 million. The cost of products sold in Q2 dropped to BRL 180 million, from BRL 263.3 million in the same quarter of the year prior.
Ferbasa said adjusted EBITDA and EBITDA margin rose to BRL 79.7 million and 29.5 percent in Q2, from an EBITDA loss and a negative EBITDA margin of BRL 13.9 million and 5.2 percent in Q2 2016.
USD = BRL 3.18 (August 15)