Mexican manganese and ferroalloys producer Minera Autlan saw its net profit in Q4 rise 160 percent, year-on-year, to $9.7 million, the company said while announcing its quarterly and full-year results.
Minera Autlan’s net revenues in Q4 rose nearly 29 percent, year-on-year, to $67.5 million, due to increased ferroalloys sales volumes and due to a one-time spot sale of manganese nodules, in which the company benefited from increased manganese prices.
Minera Autlan said sales volumes at its ferroalloys division in Q4 increased nearly 29 percent, year-on-year, to 54,000 mt, while sales at its mining division surged by 660 percent, year-on-year, in the same period to 76,000 mt.
The company’s EBITDA in Q4 improved 173.5 percent, year-on-year, to $16.1 million.
As for the full year 2016, Minera Autlan more than doubled its net profit to $5.8 million, from $2.8 million in fiscal year 2015.
Net revenues for 2016 reached $230.7 million, 13.8 percent down, year-on-year.