Chilean mining and steelmaking group CAP Group saw its net profit in the nine-month period ended on September 30 reach $12.8 million, up from $3.8 million reported in the same period of 2015.
At its steel arm, CAP Acero, net loss in the nine-month period totaled $13.1 million, 31.7 percent up, year-on-year, due to a 15.4 percent decline in the average steel prices sold in the period and thanks to increased steel sales volumes, which reached 531,913 mt in the accumulative period of January to September.
At CAP Acero, revenues and EBITDA in the nine-month period totaled $301.7 million and $11.3 million, 10.6 and 40.6 percent down, year-on-year, respectively.
CAP Mineria, the group’s mining arm, saw its net profit in the January-September period reach $33.6 million, 93.7 percent up, year-on-year, mainly due to higher shipped volumes and to a 4.9 percent decline, year-on-year, in the company’s average sales cost per mt.
In the same period, the company’s mining operations saw revenues and EBITDA rise 38.7 and 41.8 percent, year-on-year, to $636.2 million and $194.6 million, respectively, the CAP group said.