Magnesita Refraterios SA, has recorded improved financial results for Q2 and H1 2010, and has revealed plans for a major dead burned magnesia (DBM) production capacity expansion in two phases over the next three years.
The Brazilian magnesia and refractories producer, based in Contagem, Minas Gerais, saw net revenues for Q2 2010 increase 21.5% to reais (R$) 551.7m.($314.8m.) over Q2 2009, although they were down 2.5% from Q1 2010. For H1 2010, net revenues were R$1,117.6m.($637.8m. ), up 23.5% from H1 2009.
EBITDA for Q2 2010 was R$119.4m.($68.1m.), down 3% from Q1 2010, but up 66.8% from Q2 2009. Accumulated EBITDA for H1 2010 was R$242.6m.($138.4m.), representing a 109% increase over H1 2009, and down 3% from Q1 2010.
Key market demand areas included Brazil’s steel industry which Ronaldi Iabrudi,...