Grupo Simec sees net profit increase 38 percent in Q1

Monday, 03 May 2021 00:30:22 (GMT+3)   |   Sao Paulo

Mexican steelmaker Grupo Simec said net profit in Q1 this year rose 38 percent, year-over-year, to MXN 2.64 billion ($131 million). EBITDA in Q1 surged 104 percent, year-over-year, to MXN 3.11 billion ($154.2 million).

Grupo Simec said net revenues in Q1 this year reached MXN 13.3 billion ($661.9 million), 57 percent up, year-over-year. Steel sales volumes in Q1 this year rose 9.6 percent, year-over-year, to 682,000 mt.

The company reported a gross profit of MXN 3.30 billion ($163.5 million), 114 percent up, year-over-year.

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