Argentinian steelmaker Ternium Siderar reported ARS 703 million ($78.9 million) in net profit in the first quarter of 2015 (Q1), 20.8 percent down year-on-year, and 266.19 percent up quarter-on-quarter, the company said.
According to the company, operating income rose 7 percent quarter-on-quarter, to ARS 948.2 million ($106.4 million), but declined 23.1 percent year-on-year, from ARS 1.2 billion ($138.5 million).
The company’s net sales in the period reached ARS 5.4 billion ($612.9 million), 14.3 percent up year-on-year, but 7.3 percent down quarter-on-quarter.
In Q1, Siderar sold 623,400 mt of steel, 14,200 mt more compared to a year prior. Out of the total sales volume, HRC reached 250,900 mt and CRC some 140,600 mt.
Siderar said it invested ARS 410.3 million ($46.7 million) in Q1 and continued advancing on a number of projects, specifically at its hot laminator, in primary areas and in steelworks.
Siderar’s consolidated net debt was ARS 151.7 million ($17.3 million) in Q1 and total assets reached ARG 18.9 million ($2.1 million).