Gerdau’s Peruvian steelmaker Siderperu reported a PEN 14.1 million net loss in Q2, reverting a PEN 8.4 million net profit from Q2 2014, the company said in a filing at the nation’s securities exchange commission, SMV.
According to Siderperu, revenue in Q2 reached PEN 352 million, 7.7 percent down, year-on-year, due to a decline in steel prices in both the domestic and the global markets, as well as by a lower sales volume of flat steel.
Gerdau’s Peruvian steelmaker reported a 4.2 percent decline in sales costs in Q2, which totaled PEN 341 million. The company’s gross profit in Q2 was PEN 10.6 million, down from PEN 24.9 million a year ago. Gross margin reached 3 percent in the period, down from 6.5 percent in Q2 2014.
1 US$ = PEN 3.19 (Aug. 3)