Brazilian ferroalloys producer Ferbasa went from a net profit of BRL 20 million ($4.3 million) in Q4 2018 to post a net loss of BRL 1 million in Q4 2019. Net revenues in Q4 declined 1.5 percent, year-on-year, to BRL 286.7 million ($62.6 million).
The company reported an adjusted EBITDA of BRL 34.7 million ($7.5 million) in Q4, 33.5 percent down, year-on-year. Gross margin in Q4 fell to 12.1 percent, from 17.9 percent in the same quarter of 2018.
As for the full-year of 2019, Ferbasa posted a net profit of BRL 221.5 million ($48.3 million), 28.4 percent down, year-on-year.
USD = BRL 4.58 (March 4)