AHMSA reverts loss and posts net profit in Q3

Friday, 26 October 2018 23:23:17 (GMT+3)   |   Sao Paulo

Mexican integrated steelmaker Altos Hornos de Mexico reverted a net loss of MXN 574 million ($29.6 million) and posted a net profit of MXN 360 million ($18.5 million) in Q3 this year, the company said this week.

According to the steelmaker, net revenues in Q3 reached MXN 16.8 billion ($867.5 million), 27 percent up, year-on-year, due to improved steel prices in the global market. EBITDA in Q3 was $90.1 million, 112 percent up, year-on-year.

AHMSA said it maintained previous investment targets for both its steel and mining businesses in an effort to supply its own raw materials, while providing specialty steel for the automotive and energy sectors, as well as other segments.

USD = MXN 19.36 (October 26)

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