Chilean steel and iron ore producer CAP saw its net profit decline 96.1 percent in 2015, year-on-year, to $2.1 million, it said in a document filing at the nation’s securities exchange commission, SVS.
CAP said both revenues and EBITDA in 2015 diminished 17.6 and 24.8 percent, year-on-year, to $1.4 billion and $286.5 million, respectively.
As for its mining division, CAP Mineria, revenues and EBITDA fell 29.7 and 41 percent in 2015, year-on-year, to $662 million and $182 million, respectively. Net profit at CAP’s mining division declined 83.3 percent in 2015, year-on-year, to $18.9 million, thanks to a 35 percent decline, year-on-year, of average iron ore prices.
At the same time revenues at the group’s steel producing arm, CAP Acero, declined 19.3 percent in 2015, year-on-year, to $442.9 million, EBITDA in the same period rose 60.8 percent to $22 million. CAP Acero ended 2015 with a net loss of $15.7 million.