Chilean long steel producer CAP Acero, which is part of holding company CAP, saw its net profit in the full-year of 2021 reach $11.3 million, up from a net loss of $57 million in full-year 2020.
CAP Acero said net revenues in full-year 2021 rose 58.3 percent, year-over-year, to $772.9 million. The company attributed the stronger revenues to higher average steel selling prices in full-year 2021, which grew 54.8 percent, year-over-year. Average steel selling prices in full-year 2021 totaled $892.4/mt, up from $576.3/mt in full-year 2020.
The company said EBITDA in full-year 2021 was $56.6 million, up from an EBITDA loss of $32.1 million the full-year of 2020.