Brazil’s Ferbasa sees profit increase in Q2

Wednesday, 15 August 2018 00:44:36 (GMT+3)   |   Sao Paulo

Brazilian ferroalloys producer Ferbasa saw its net profit in Q2 rise nearly 20 percent, year-on-year, to BRL 76.4 million ($19.5 million), the company said this week while releasing its quarterly results.

Ferbasa said net revenues in Q2 totaled BRL 348.5 million ($89.3 million), 28.8 percent up, year-on-year. Ferroalloys sales volumes in Q2 reached 51,356 mt, 2 percent down, year-on-year.

Ferroalloys production in Q2 grew 15 percent, year-on-year, to 65,912 mt. The company also said it operated at 76 percent, on average, its installed capacity in Q2.

Ferbasa’s adjusted EBITDA in Q2 was BRL 127.3 million ($32.6 million), 59.7 percent up, year-on-year.

USD = BRL 3.90 (August 15)

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