Brazil’s refractory materials producer Magnesita Refratários rose its net loss in Q4 to BRL 143 million, from a BRL 76.4 million loss reported in the same quarter of the year prior, the company said.
Magnesita’s net operating revenues in Q4 rose 25.1 percent, year-on-year, to BRL 897.8 million. Gross profit in Q4 rose 20 percent, year-on-year, to BRL 241.6 million. On the other hand, the company’s gross margin declined to 26.9 percent in Q4 from 28 percent in the same quarter of 2014.
The company’s adjusted EBITDA in Q4 was BRL 97.8 million, 20.8 percent up, year-on-year. Adjusted EBITDA margin declined to 10.9 percent in Q4 from 11.3 percent in the same period of 2014.
As for the company’s full year results, it posted a BRL 1 billion net loss in 2015. In 2014, the company’s net loss was BRL 97 million.
Commenting the company’s quarterly results, Octavio Pereira Lopes, Magnesita’s CEO, said 2015 was marked by a “challenging economic environment globally.” However, despite the challenges at both global and domestic levels, Magnesita said it expects to reinforce its position as a global player, while strengthening its capital structure and maximizing growth opportunities in several regions, as the company seeks a corporate restructuring.