Brazilian refractories producer Magnesita went from a $34.8 million net loss in Q4 2015 to post a $93 million net profit in Q4 2016, the company announced this week.
According to the company, revenues in Q4 increased 8.7 percent, year-on-year, to $248.8 million, at the same time EBITDA also improved from $11.8 million in Q4 2015 to $73.8 million in Q4 2016.
Magnesita’s EBITDA margin in Q4 was 29.6 percent, up from an EBITDA margin of 5.2 percent reported in the same quarter of the year prior.
Magnesita’s refractories sales volumes in Q4 totaled 221,400 mt, 3.3 percent down, year-on-year.
As for the full-year 2016, Magnesita posted a net profit of $133.2 million, reverting the $297.6 million net loss it posted in the year prior.