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.



Most Recent Related Articles

Court limits amount of iron ore slag CSN can pile near mill

US import wire rod market unchanged week-on-week

Price stable for Brazilian rebar exports

Turkey books more scrap from the US, Europe

Japanese crude steel output up 5.9 percent in Jan from Dec