Mexican steel producer AHMSA posted a net loss of MXN 583 million ($28 million) for the second quarter of 2022, against a net profit of MXN 345 million in the previous quarter.
Net sales reached MXN 13.553 billion, from MXN 12.55 billion in the previous quarter, and EBITDA reached MXN 60 million from MXN 73 million. The company’s operational profit reached MXN 580 million from MXN 996 million in the previous quarter.
By volume, sales of steel products increased to 509,600 mt in the second quarter of 2022, from 455,000 mt in the previous quarter.
According to the company, the main factor behind the net loss was the low average price of steel products sold, despite the increased volume of sales, while raw materials prices increased and negatively affected margins.