Earnings at Chile's CAP down 19% in Q1

Earnings at Chilean long steel and iron ore producer Compañía de Acero del Pacífico (CAP) dropped by 19.40% year on year in the first quarter of 2018, amid a reduction iron ore volumes and prices.

Earnings before interest, taxes, depreciation and amortization (Ebitda) came to $141.15 million, down from $175.17 million a year before, the company said in a report to the country's securities regulator on Friday May 4. Better results from the company's steel segment during the quarter were not enough to compensate for a weaker performance of its iron ore division. Ebitda at CAP's 75%-owned iron ore subsidiary, Compañía Minera del Pacífico (CMP) declined by 30.90%...

Published

Felipe Peroni

May 09, 2018

03:59 GMT

São Paulo