Mexican manganese and ferroalloys producer Minera Autlan turned to profit in Q1, the company announced this week while releasing its quarterly results.
The company said it reverted a net loss of nearly $4 million in Q1 2016 to post a net profit of $14.2 million in Q1 this year.
Minera Autlan saw its net revenues in Q1 rise 71 percent, year-on-year, to $83.9 million, mainly driven by a 20 percent increase in sales in Q1, year-on-year, at its ferroalloys division, and by a growth of 12 percent, in the same period, in the sales of its mining segment.
Despite the 16.5 percent increase in its cost of sales in Q1, when compared to the same period of the year prior, Minera Autlan saw its gross profit reach $34.8 million in Q1, a gain of $27.8 million, year-on-year. The company’s cost of sales in Q1 was $49 million, up from $42 million in Q1 2016.
The company’s EBITDA in Q1 surged to $33.1 million from $6.98 million in Q1 2016, a 373.9 percent increase, year-on-year.