AHMSA returns to profit in Q2

Wednesday, 25 July 2018 00:29:22 (GMT+3)   |   Sao Paulo
       

Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) turned from a MXN 161 million ($8.6 million) net loss in Q2 2017 to a MXN 231 million ($12.3 million) net profit in Q2 this year.

The company said EBITDA in Q2 this year was MXN 2.1 billion ($111 million), 84 percent up, year-on-year.  Net revenues in Q2 rose 30 percent, year-on-year, to MXN 18.1 billion ($970 million), attributed to increased steel selling prices and higher steel sales volumes.

AHMSA said the improved results in Q2 this year also reflect increased margins in specialty steel sales, as well as reduced operational costs.


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