Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) went from a MXN 163 million ($8.6 million) net loss in Q1 2017 to a MXN 36 million ($1.91 million) net profit in Q1 this year.
The steelmaker said net revenues in the first quarter of the year rose 21.2 percent, year-on-year, to MXN 15.5 billion ($830 million).
Steel sales volumes in Q1 reached 1.12 million mt, 18.3 percent down, year-on-year. EBITDA in Q1 rose nearly 60 percent, year-on-year, to $76.5 million.
The company said the improved results in Q1 reflect better steel selling prices as well as improved margins for specialty steel producers in the period.
USD = MXN 18.77 (May 1)