Core earnings at Brazilian ferro-alloys producer Ferbasa declined by 10.16% in the first quarter of 2018, affected by higher costs for energy and raw materials on an annual comparison, Metal Bulletin has learnt.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) came to 94.4 million Brazilian Reais ($26.2 million) in January-March, against 101.6 million Reais in the corresponding months of 2017.The results were mainly affected by the 30% rise in Ferbasa's cost of products sold, to 238 million Reais in the first quarter, from 183 million Reais a year earlier, the...