Grupo Simec posts increased Q4, full-year earnings

Tuesday, 05 March 2019 21:51:57 (GMT+3)   |   Sao Paulo

Mexican steelmaker Grupo Simec said it went from a net loss of MXN 461 million ($23.9 million) in Q4 2017 to a net profit of MXN 593 million ($30.8 million) in Q4 2018.

Net revenues in Q4 totaled MXN 8.8 billion ($460 million), 30 percent up, year-on-year, from MXN 6.8 billion ($350 million) in Q4 2017. EBITDA in Q4 2018 was MXN 908 million ($47.1 million), 16 percent down, year-on-year, when compared to the same quarter of the year prior.

As for the full year of 2018, Grupo Simec said net profit was MXN 3.7 billion ($190 million), 119 percent up, year-on-year.

USD = MXN 19.26 (March 5)

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