Brazilian refractory materials producer Magnesita Refratários reverted a $9.3 million net loss in Q1 2015 and posted a $22.7 million net profit in Q1 2016, the company said.
Magnesita’s net operating revenues in Q1 declined 16.7 percent, year-on-year, to $234 million due to lower sales volumes.
The company’s gross profit in Q1 diminished 16.04 percent, year-on-year, to $78.5 million, while gross margin remained stable at 33.6 percent, a similar level when compared to the 33.3 percent gross margin reported in Q1 2015.
Adjusted EBITDA in Q1 was $39.1 million, 20.7 percent down, year-on-year, while adjusted EBITDA margin declined to 16.7 percent in Q1 from 17.6 percent in the same quarter of the previous year.