Mexico’s largest integrated steelmaker, Altos Hornos de Mexico (AHMSA), saw its net loss in Q3 increase to MXN 1.28 billion, from MXN 668.69 million last year.
The company’s net revenues in Q3 also diminished, reaching MXN 10.19 billion, a 7.5 percent decline, year-on-year. Cost of sales in Q3 rose to MXN 10.8 billion, from MXN 10.6 billion a year ago, weighing on the company’s quarterly results, and generating a gross loss of MXN 608.62 million. Last year, AHMSA reached a MXN 404.16 million gross profit.
AHMSA said sales volumes of steel in Q3 declined 1.16 percent, year-on-year, to 922,138 mt.
USD = MXN 16.49 (October 30)