Mexican manganese and ferroalloys producer Minera Autlan went from a net profit of $25.1 million in Q2 2018 to a net loss of $2.3 million in Q2 2019, the company said.
Net revenues in Q2 declined 3.1 percent, year-on-year, to $98 million. The company said decreased net revenues were due to lower ferroalloys sales, as domestic clients were affected by the US Section 232 tariffs, along with bearish macroeconomics for Mexico.
Cost of sales in Q2 rose to $78.5 million, from $70.5 million in Q2 2018. EBITDA in Q2 dropped 30 percent, year-on-year, to $18.3 million.
As for H1, Minera Autlan posted a net profit of $1.4 million, down from a net profit of $28.5 million in H1 2018.