Grupo Simec reports net loss in Q4, full-year 2019

Friday, 28 February 2020 22:30:26 (GMT+3)   |   Sao Paulo

Mexican steelmaker Grupo Simec went from a net profit of MXN 330 million ($16.61 million) in Q4 2018 to a net loss of MXN 2.62 billion ($132.3 million) in Q4 2019.

The company said net revenues in Q4 fell 17 percent, year-on-year, to MXN 7.31 billion ($368.2 million). Steel sales volumes in Q4 decreased 3 percent, year-on-year, to 570,000 mt. EBITDA in Q4 was MXN 475 million, 36 percent down, year-on-year.

USD = MXN 19.82 (February 28)

Most Recent Related Articles

Mexico reviewing CVD duties on wire rod imports from Ukraine

Mexico commences sunset review on steel plate imports from three countries

Mexican industrial production declines July

Mexican iron pellet output decreases in June

Mexico initiates new permit system for steel exports to the US