Brazilian ferroalloys producer Ferbasa said net profit in Q4 dropped 14.2 percent, year-on-year, to BRL 62 million ($19.1 million), while releasing its quarterly results.
Net revenues in Q4 reached BRL 258.7 million ($80.2 million), 8.6 percent down, year-on-year. Cost of products sold in Q4 declined 12.4 percent, year-on-year, to BRL 192 million ($59.2 million).
The company’s adjusted EBITDA in the last quarter of the year was BRL 78 million ($24 million), 82.7 percent up, year-on-year.
As for the full year of 2017 Ferbasa said net profit surged 285 percent, year-on-year, to BRL 270.3 million ($83.3 million) on increased ferroalloys selling prices and reduced cost of products sold in 2017.