The Mexican Minera Autlán recorded net income of $5.46 million in the second quarter of the year, reversing a loss of $19.4 million recorded in the same period last year. The gains were due to expense control and foreign exchange gains, according to the company's financial statements reviewed by SteelOrbis. In the second quarter, its total sales decreased 15.0 percent or $12.9 million to $72.9 million amid falling prices and lower demand.
With a 19.3 percent contraction in cost of sales, gross profit increased 11.6 percent to $13.3 million. Operating expenses decreased 18.1 percent to $13.1 million. Thus, in the second quarter of the year, the operating loss of $4.1 million recorded between April and June 2023 was transformed into an operating profit of $157,000.
In the same period EBITDA increased 43.8 percent to $7.7 million. The EBITDA margin increased by 272 basis points, going from 6.2 percent in the second quarter of last year to 8.9 percent in the reported period.