Brazilian ferroalloys producer Ferbasa went from a net profit of BRL 46.1 million ($8.63 million) in Q1 2019 to report a net loss of BRL 600,000 ($112,332) in Q1 2020, the company said.
Ferbasa said net revenues in Q1 reached BRL 346.2 million ($64.8 million), 0.7 percent down, year-on-year. Adjusted EBITDA in Q1 was BRL 68.6 million ($12.8 million), 23.1 percent down, year-on-year. Adjusted EBITDA margin in Q1 fell to 19.8 percent, down from 25.6 percent in Q1 2019.
Ferbasa said it produced at 78.4 percent of its capacity in Q1, slightly up from the 77.6 percent production capacity rate it reported in Q1 2019.
USD = BRL 5.34 (May 26)