Mexican steelmaker Minera Autlán recorded net losses of $19.4 million in the second quarter of the year, a figure that contrasts with net profits of $26.8 million in the second quarter of last year, the company informed the financial markets.
The value of sales decreased 51.2 percent, compared to the second quarter of last year, totaling $85.8 million. Cost of sales and operating expenses decreased but not at the same pace as sales. This generated an operating loss of $4.1 million, a figure that contrasted with the operating profit of $31.1 million from April-June 2022.
Ebitda decreased 92.6 percent, going from $71.7 million in the second quarter of last year to $5.3 million in the same period this year.
According to the company, in the second half of 2023, the global economy is expected to experience a gradual slowdown.