Ternium posts lower numbers during Q4 but remains positive in full-year results

Thursday, 23 February 2012 01:05:38 (GMT+3)   -  
SteelOrbis News

Luxembourg-based Ternium SA announced Wednesday that net sales during Q4 2011 decreased by 11 percent to $2.2 billion from $2.5 billion in Q3, but represented a 14 percent increase over Q4 fiscal 2010. Earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 18 percent during Q4 to $396.6 million over Q3, while increasing by 56 percent over Q4 during fiscal 2010. The decreases during Q4 can be attributed to seasonal lulls in shipping.

During the full-year, Ternium's net sales increased by 24 percent over 2010 to $9.15 billion. EBITDA for the full-year also increased over 2010 by 16 percent to $1.67 billion. The year-over-year change in net financial results included a $360.1 million lower net foreign exchange result primarily due to the impact of the Mexican Peso's 13.1 percent depreciation on Ternium's Mexican subsidiary's US dollar denominated debt in 2011, compared with a 5.4 percent Mexican Peso appreciation in 2010, and a $49.6 million lower interest income on the Sidor financial asset.

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