Peruvian long steelmaker Aceros Arequipa saw its net profit in Q2 decline 65 percent, year-on-year, to PEN 12 million ($3.7 million) on a declining gross profit, the company said.
According to Aceros Arequipa, net revenues in Q2 rose 7.2 percent, year-on-year, to PEN 528 million ($162.4 million). When compared to Q1, net revenues fell 4.9 percent, quarter-on-quarter.
The company said gross profit in Q2 was PEN 57 million ($17.3 million), 38 percent down year-on-year, and 2 percent down quarter-on-quarter.
The local steelmaker said EBITDA in Q2 reached PEN 38 million ($11.7 million), 41 percent down year-on-year, and down 2 percent quarter-on-quarter.
EBITDA margin in Q2 was 7 percent, down from 13 percent in Q2 2016.
USD = PEN 3.25 (July 25)