Brazil-based refractory materials producer Magnesita Refratarios posted a BRL 76 million ($26.6 million) net loss in the fourth quarter of 2014 (Q4), the company said this week in a conference call. In Q4 2013, the company reported a net profit of BRL 31 million ($9.6 million)
The company’s full-year 2014 results also decreased. The company went from a BRL 59 million ($18.3 million) net profit in 2013 to a BRL 97 million ($30.1 million) net loss in 2014.
Magnesita’s sales for the metals segment decreased 1 percent in Q4, year-on-year, to 217 million mt, but increased 5 percent to 883 million mt in FY2014, year-on-year. In terms of value, sales in Q4 reached BRL 545 million ($169.6 million), 3 percent up, year-on-year. For the FY2014, sales increased 12 percent, reaching BRL 2.1 billion ($653.6 million) in 2014.
South America accounted for 39 percent of sales in 2014 for the metals segment, while North America and Europe accounted for 26 and 22 percent, respectively.
Magnesita’s EBTIDA in Q4 totaled BRL 81 million ($25.2 million), 18 percent down year on year. As for FY2014, the company’s EBTIDA fell 2 percent to BRL 387 million ($120.4 million).