Mexican manganese and ferroalloys producer Minera Autlan went from a net profit of $6.4 million in Q3 2019 to post a net loss of $10.7 million in Q3 this year, the company said while releasing its quarterly results.
The company said net revenues in Q3 reached $79.3 million, 30.8 percent down, year-over-year. Minera Autlan said Covid-19 affected domestic sales of ferroalloys. On the other hand, exports of manganese in Q3 this year grew 4 percent, year-over-year, from Q3 2019.
Gross profit fell to $15.8 million in Q3 this year, down from $26.3 million in the same quarter of the year prior. EBITDA in Q3 was $17.9 million, 30.1 percent down, year-over-year.