Peruvian longs steelmaker Aceros Arequipa saw its net profit rise 81.3 percent in Q3, year-on-year, to PEN 40 million ($12.3 million), due to an increased gross profit of PEN 107 million ($32.9 million), the company said while releasing its quarterly results.
The company said net revenues in Q3 improved 22 percent both year-on-year and quarter-on-quarter, to PEN 644 million ($198 million). Aceros Arequipa attributed the growth to both higher steel sales volumes and selling prices.
The steelmaker’s EBITDA in Q3 was PEN 86 million ($26.5 million), 83 percent up, year-on-year, and 124 percent up, quarter-on-quarter.
EBITDA margin in Q3 rose to 13 percent from 9 percent in Q3 2016, and from 7 percent in Q2 this year, the company said.
USD = PEN 3.25 (October 27)