Peruvian steel producer Corporacion Aceros Arequipa posted a net profit of PEN 82.81 million ($21.48 million) for 2023, against Pen 246.4 million in 2022.
Net sales declined by 13.6 percent to PEN 4.51 billion, and with production costs declining by 10.9 percent to PEN 4.02 billion, the gross profit declined by 30.5 percent to PEN 486.4 million, while operational profit declined by 45.5 percent to PEN 267.5 million.
According to the company, the low results ultimately reflect a combination of lower sales prices and lower volumes sold.
USD = PEN 3.86 (February 9)