Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) went from a MXN 150 million ($7.8 million) net profit in Q3 last year to a MXN 574 million ($29.9 million) net loss in Q3 this year, the company said while releasing its quarterly results.
Net revenues in Q3 reached MXN 13.2 billion ($689.4 million), 3.07 percent down, year-on-year.
Steel sales volumes declined 10.6 percent in Q3, year-on-year, to 937,000 mt. Coal sales rose 20.7 percent in Q3, year-on-year, to 1.6 million mt.
The company said EBITDA in Q3 this year was MXN 760 million ($39.6 million), 60.8 percent down from an EBITDA of MXN 1.9 billion ($99 million) reported in the same quarter of the year prior.
USD = MXN 19.1 (October 31)