Mar. 5, 2010
Brazilian refractory brick producer Magnesita posted a net loss 29.7mn reais (US$16.7mn) in 2009 versus a net loss of 62.7mn reais in the previous year, according to the company's annual results.
In Q4, Magnesita posted net earnings of 20.1mn reais versus a 132mn-real loss year-on-year, when the company's results were significantly impacted by the global crisis, the statement said.
Net operating revenues declined 19.7% to 1.93bn reais in the full year. In Q4, revenues totaled 538mn reais, down 4.8% year-on-year.
Ebitda fell 33.4% to 365mn reais in 2009, while in Q4 Ebitda rose 295% to 139mn reais from 35.1mn reais in 4Q08.
Based in Belo Horizonte, Magnesita is Latin America's largest refractory brick manufacturer.
