Mexico’s Minera Autlán recorded net losses for the third consecutive quarter, now in the third quarter with $9.8 million, a figure that contrasts with the net profit of $16.3 million in the third quarter of last year, the company reported to financial markets.
In response, the Bx+ brokerage firm informed its client-investors in an analysis report that it was a “negative report.”
The value of Minera Autlán’s sales decreased 44.5 percent compared to the third quarter of last year, totaling $86.4 million. The cost of sales decreased 30.9 percent; However, in relation to sales, it increased considerably, going from 69.8 percent in the third quarter of last year to 86.8 percent in the same period of the current year.
EBITDA decreased 87.7 percent, going from $50.7 million in the third quarter of last year to $6.2 million in the same period of this year.
According to the company, the cash balance as of September decreased $44.9 million compared to December of last year, remaining at $71.8 million. The resources were used mainly to cover and reduce financial and fiscal commitments.
The total debt balance was $203.3 million, slightly lower than the $203.9 million in December 2022
For the fourth quarter of the year, Autlán estimates that the uncertainty and volatility of recent months will continue and for 2024, current forecasts point to lower growth than that predicted for 2023.