You are here: Home > Steel News > Latest Steel News > Chilean...

Chilean Grupo CAP posts lower net profit for the first half of 2022

Tuesday, 09 August 2022 18:57:47 (GMT+3)   |   Sao Paulo
       

Chilean iron ore and steel producer Grupo CAP achieved a net profit of $215.5 million in the first half of 2022, against $531.3 million in the same period of 2021.

According to the company, the reduced profit reflects lower margins for all its business areas, due not only to lower prices in line with declining international prices of commodities, but also production costs that were impacted by inflationary pressures.

Under the same comparative basis, net sales declined by 25.8 percent to $1.55 billion, while the gross profit declined by 57.1 percent to $524.6 million.

In the mining area, Compania Minera del Pacifico (CMP), net profit reached $295.6 million, against $695.0 million previously, with iron ore production reaching respectively 7.4 million mt and 7.6 million mt.

In the steel production area, Compania Siderurgica Huachipato (CSP), there was a net loss of $9.1 million, against a net loss of $1.5 million previously.

In the other areas of the group, steel processing achieved a net profit of $6.1 million while in the infrastructure area the net profit was $10.8 million.


Similar articles

Chile’s Grupo CAP posts a net loss for Q3 2024

12 Nov | Steel News

Chile’s Grupo CAP posts a net loss for Q2 2024

28 Aug | Steel News

Chile’s Grupo CAP posts a net loss for Q1 2024

16 May | Steel News

Chile’s Grupo CAP posts lower net profit for 2023

13 Mar | Steel News

Chilean Grupo CAP posts net loss for H1 2023

10 Aug | Steel News

Chilean Grupo CAP posts a lower net profit in 2022

27 Feb | Steel News

Q1 net sales decline at Chilean steel producer Siderurgica Huachipato

16 May | Steel News

Chile’s CAP Acero sees profit grow in full-year 2021

31 Jan | Steel News

Chile’s CAP Acero turns loss to profit in Q3

24 Nov | Steel News

CAP Acero posts another net loss in 2020

29 Jan | Steel News