The Peruvian steel producer Siderperu announced a net profit of PEN 54 million ($14.38 million) in the first quarter of 2024, up 184 percent compared to the fourth quarter of 2023.
Net sales declined by 9.74 percent to PEN 556 million ($148.09 million), production costs declined by 18.1 percent to PEN 466 million ($134.13), the gross profit increased by 89.6 percent to PEN 91 million ($24.24 million) and the EBITDA increased by 103.1 percent to PEN 54.5 million ($14.51 million).
Controlled by the Brazilian Gerdau group, Siderperu has a production capacity estimated at 750,000 mt per year.
$1 = PEN 3.77 (May 1)
