Cintac, the service center and distribution arm of Chilean steelmaker CAP Acero, saw its net profit in 2015 decline 5.8 percent, year-on-year, to nearly $3.3 million.
Cintac’s sales volumes in 2015 rose 5.4 percent, year-on-year, to 331,000 mt. Despite the rise in shipments, revenues fell 4.6 percent in 2015, year-on-year, to $283.9 million, due to average lower steel prices, which declined 9.4 percent, year-on-year, in the same period.
The decreased revenue weighed on Cintac’s gross profit, which totaled $35.7 million in 2015, 11 percent down when compared to the year prior.