Brazils Votorantim Metais Ltda. logged a 3-percent
year-on-year drop in first-quarter revenue amid lower sales
volumesparticularly for aluminumand LME prices, the
Revenue totaled 2.27
billion reais ($1.06 billion), down from some 2.33 billion
reais in the first quarter of 2012.
Zinc revenue accounted
for 1.21 billion reais ($566 million) of the total, down 3
percent in the same comparison.
Revenue from aluminum
fell 3 percent to 691 million reais ($323 million), while
nickel remained unchanged year on year at 363 million reais
before interest, taxes, depreciation and amortization (Ebitda)
rose 21 percent year on year to 373 million reais ($174
million), mainly due to a 13-percent depreciation of the
Brazilian currency during the period. Aluminum and nickel
prices, which declined in terms of dollars, increased in terms
of reais during the period.
Prices for aluminum,
which fell 8 percent in the first quarter to an average of
$2,002 per tonne, equated to an average of 3,997 reais per
tonnea 4-percent increase year on year, the company
Nickel, which in
dollar terms fell 11 percent in the first quarter to an average
of $17,445 per tonne, increased 1 percent in reais terms to
34,832 reais per tonne.
Aluminum sales fell 16
percent to 96,000 tonnes, while zinc sales remained unchanged
at 166,000 tonnes.
However, nickel sales
rose 5 percent to 9,000 tonnes.
The metals and mining
division accounted for nearly 40 percent of São
Paulo-based parent company Votorantim Industrial SAs
total revenue of 5.91 billion reais ($2.76 billion) in the
first quarter, up 10 percent from the same year-ago period.
A version of this
article was first published by AMM sister publication Metal