Chile’s CAP Acero turns loss to profit in Q3

Wednesday, 24 November 2021 21:39:37 (GMT+3)   |   Sao Paulo

Chilean long steel producer, CAP Acero, which is part of holding company CAP SA, went from a net loss of $14 million in Q3 2020 to post a net profit of $4 million in Q3 this year, the company said.

Net revenues in Q3 this year rose 59 percent, year-over-year, to $192 million. Likewise, EBITDA rose to $14 million in Q3 2021, from an EBITDA loss of $2 million in Q2 2020.

Steel sales volumes in Q3 this year rose 4 percent, year-over-year, to 189,000 mt. The company said steel selling prices in Q3 grew 73 percent, year-over-year, to $971/mt, from $562/mt in Q3 2020.

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