Brazilian refractories producer Magnesita posts Q2 loss

Wednesday, 29 August 2018 23:40:33 (GMT+3)   |   Sao Paulo
       

Brazilian refractories producer Magnesita Refratarios posted a net loss of $61.8 million in Q2 this year, the company said while releasing its quarterly results.

Magnesita’s loss increased from a $52.8 million loss in Q2 2017. The company’s net revenues in Q2 totaled $318.4 million, 18.8 percent up, year-on-year.

Refractories sales to the steel segment in Q2 reached $222.7 million, 7.8 percent up, year-on-year, following an increase in global steel output, the company said.

Magnesita said gross margin in Q2 was 26.1 percent, down from 33.5 percent in Q2 2017. EBITDA in Q2 reached $12.2 million, up from a EBITDA loss of $600,000 in Q2 last year. Adjusted EBITDA dropped 6.1 percent in Q2, year-on-year, to $41.8 million.

In a separate document filing, RHI Magnesita, a merger between Magnesita Refratarios and RHI, announced revenues of EUR 1.5 billion in H1 this year, up from EUR 855.9 million in the same period of last year.

 

 


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