Mexican long steel producer Grupo Simec saw its net profit in Q2 rise 11 percent, year-on-year, to MXN 682 million ($36.6 million), the company said this week while releasing its quarterly results. The steelmaker said net profit for H1 was MXN 1.6 billion ($88.9 million), 28 percent up, year-on-year.
Grupo Simec reported net revenues of MXN 9.07 billion ($487.1 million) in Q2, and MXN 17 billion ($913.9 million) in H1, 27 percent and 13 percent up, year-on-year, respectively.
Steel sales volumes in Q2 reached 537,000 mt, 3 percent up, year-on-year. In the first six months of the year, sales volumes remained stable at 1.09 million mt.
The company said EBITDA in Q2 improved 15 percent, year-on-year, to MXN 1.3 billion ($74.4 million). As for H1, EBITDA was MXN 2.9 billion ($159.4 million), 7 percent up, year-on-year.
USD = MXN 18.62 (July 26)