Mexico’s Minera Autlan goes from loss in Q3 2015 to profit in Q3 2016

Mexican manganese and ferroalloys producer Minera Autlan went from a $1.1 million net loss in Q3 2015 to a $1.4 million net profit in Q3 2016, the company said.

The company attributed the profit in Q3 of this year to a better operating result and a stronger EBITDA.

Minera Autlan’s net revenues in Q3 2016, however, declined by 22.3 percent, year-on-year, to $53.2 million. This is attributed to a decline in a broad range of ferroalloys products, the company said.

Minera Autlan managed to diminish its cost of sales from $57.6 million in Q3 2015 to $41.5 million in Q3 2016.

As for the nine-month period from January to September of this year, the company posted a $3.8 million net loss, which is more than four times higher than the loss it reported in the same reporting period of the year prior 2015.