Mexican manganese-ferroalloy producer Minera Autlán (BMV: AUTLANB) is expected to see sales grow nearly 73% and Ebitda by almost 200% this year, according to analyst Rodrigo Heredia with Mexican bank IXE.
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Better prices for its products as well as increased production capacity will help push an improved bottom line, Heredia told BNamericas, adding that in September a new refinery line will come on stream, increasing output of refined material from 60,000t/y to 100,000t/y.
Due to repair work, Autlán's furnace 10 at the Tamós plant, which accounts for 20% of the company's brute ferroalloy production capacity, was shut down until the end of June 2007, partially explaining the sales and profit increase forecasts.
Autlán saw its net income surge to 360mn pesos (US$34.4mn) in the first quarter this year, compared to 31.2mn pesos year-on-year, while revenues jumped to 1.15bn pesos versus 450mn pesos in the year-ago period, and Ebitda for the quarter expanded 626% to 548mn pesos.
Autlán is part of Mexico's Grupo Ferro Minero, which owns the Molango and Nonalco mines, and the Tamós and Gómez Palacio ferroalloy plants. The group also owns a port facility.
