Brazilian ferroalloys producer Ferbasa sees profit rise in Q3

Monday, 15 November 2021 01:39:07 (GMT+3)   |   Sao Paulo

Brazilian ferroalloys producer Ferbasa saw its net profit in Q3 rise to BRL 233 million ($42.6 million), from BRL 11.5 million ($2.11 million), the company said, while releasing its quarterly results.

Ferbasa said net revenues in Q3 increased 76.3 percent, year-over-year, to BRL 679.1 million ($124.4 million).

The company reported an adjusted EBITDA of BRL 266.9 million ($48.9 million), 149.7 percent up, year-over-year.

EBITDA margin in Q3 grew to 39.3 percent, from 27.7 percent in Q3 2020.

$ = BRL 5.46 (November 15, 2021)

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