Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) went from a net profit of MXN 231 million ($11.8 million) in Q2 2018 to post a net loss of MXN 2.11 billion ($108.2 million) in Q2 2019, the company said while releasing its quarterly results.
AHMSA said EBITDA loss in Q2 was $53 million, as opposed to the $111 million EBITDA it reported in Q2 2018. EBITDA was the company’s only indicator measured in USD.
AHMSA said net revenues in Q2 fell 28.8 percent, year-on-year, to MXN 12.90 billion ($658.7 million).
USD = MXN 19.59 (August 12)