Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) went from a net profit of MXN 36 million ($1.89 million) in Q1 2018 to post a net loss of MXN 681 million ($35.9 million) in Q1 this year, the company said this week while releasing its quarterly results.
AHMSA said net revenues in Q1 2019 totaled MXN 15.7 billion ($827.7 million), 1 percent up, year-on-year. Steel sales volumes in Q1 dropped 9 percent, year-on-year, to 921,000 mt. EBITDA in Q1 was $22 million, 70 percent down, year-on-year. EBITDA is the company’s only indicator to be reported in US dollars.
USD = MXN 18.9 (May 1)