Brazil's largest aluminium producer CBA reported a 7% year-on-year decline in its 2017 adjusted earnings due to factors stemming from the sale of surplus energy and the suspension of its nickel operations.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) totaled 449 million Brazilian Reais ($134.3 million) last year.This decline was "mostly driven by higher [generation scaling factor] in the energy business and mark-to-market of future energy surplus not yet sold, as well as costs linked to the 2017 full-year temporary suspension of nickel operations when compared to the 2016 half-year temporary suspension," parent company Votorantim SA said on Wednesday...