Ternium reports 305 percent increase in first quarter EBITDA

On May 4, Ternium SA, Luxembourg-based steelmaker with main assets in Central and South America, issued its financial results for the first quarter of 2010, reporting a 305 percent year-on-year increase in EBITDA.
 
According to the financial results, the net profit of the company was $245.1 million in the first quarter of 2010, compared with a net loss of $117 million in the first quarter of 2009. Sales revenues in the first quarter of 2010 saw an increase of 41 percent, rising from $1.17 billion in the previous year to $1.65 billion. The EBITDA of Ternium was $384.8 million in the first quarter of 2010, compared with an EBITDA of $95 million in the first quarter of 2009, increasing by 305 percent.
 
Ternium sold 1.9 million mt of products during the first quarter of 2010 compared to 1.5 million mt during the first quarter of 2009, increasing 27 percent.
 
Regarding the outlook for 2010, the company said that it expects the Americas' economy to improve in the coming quarter, also stating, "Ternium expects an increase in operating income in the second quarter of 2010 compared to the first quarter of 2010, mainly as a result of slightly higher shipments and an improved operating margin, as higher steel prices should be only partially offset by higher raw material costs."