Mexican ferroalloys and manganese producer Minera Autlan went from a $1.3 million net loss in Q2 2016 to a $10.9 million net profit in Q2 2017, the company said.
The company saw net revenues in Q2 rise 47.6 percent, year-on-year, to $89.8 million. The company’s forecast earlier this year predicted net revenues would grow “at least” 30 percent in Q2, year-on-year.
Minera Autlan said cost of sales in Q2 rose to $58.5 million, from $51.3 million in Q2 2016. Additionally, gross profit surged nearly 230 percent in Q2, year-on-year, to $31.2 million.
The company’s EBITDA in Q2 was $27.5 million, up from $9 million in Q2 2016.