CAP Acero posts another net loss in 2020

Friday, 29 January 2021 21:05:49 (GMT+3)   |   Sao Paulo
       

Chilean steelmaker CAP Acero, which is part of CAP Group, posted another net loss in the full year of2020. The company said net loss in 2020 was $57 million, up from a larger loss of $114.1 million it reported in 2019.

Net revenues in 2020 rose 2.7 percent, year-over-year, to $488.1 million, due to higher steel sales volumes in the year. The company reported an EBITDA loss of $32.1 million in the full year of 2020, as compared to an EBITDA loss of $78.7 million in 2019.

On the other hand, CAP Acero’s parent company, CAP Group, reported a net profit of $300.4 million in the full year of 2020, compared to a net loss of $104.1 million in 2019. CAP Group attributed the stronger results to higher mining sales, including iron ore, and reduced operational costs.


Most Recent Related Articles

Brazil’s Ferbasa swings back to profit in Q4 2020

Anglo American sees improved EBITDA for Minas-Rio in 2020

Ternium Argentina sees profit surge in Q4 2020

Gerdau’s Peruvian subsidiary sees profit spike in Q4 2020

Shougang Hierro Peru sees profit rise 136 percent in Q4