Chilean mining and steelmaking group CAP posted increased net profits and revenues in fiscal year 2016 (FY 2016), the company said in an earnings filing this week.
The group’s net profit in FY 2016 was $60.3 million, up from $2.1 million reported in the full year of 2015. Net revenues in 2016 rose 10.9 percent, year-on-year, to $1.6 billion, while EBITDA increased 54.5 percent in the same period to $442.6 million.
At CAP Acero, the company’s steelmaking arm, revenues and EBITDA in the full year of 2016 reached $403.1 million and $13.5 million, respectively, with revenues down 9 percent year-on-year and EBITDA down 38.4 percent in the same comparison period.
As for the full year of 2016, CAP Acero posted a $19.2 million net loss, compared to a $15.7 million loss in 2015.