Mexican steelmaker Grupo Simec went from a net loss of MXN 498 million ($24.5 million) in Q4 2020 to post a net profit of MXN 1.93 billion ($95.3 million) in Q4 2021, the company said this week while releasing its quarterly results.
Net revenues in Q4 2021 rose 27 percent, year-over-year, to MXN 12.88 billion ($634.2 million). Steel sales volumes in Q4 2021 totaled 550,000 mt, 9 percent down, year-over-year. Gross profit in Q4 2021 grew 102 percent, year-over-year, to MXN 3.58 billion ($176.4 million).
Grupo Simec reported an EBITDA of MXN 3.28 billion ($161.6 million) in Q4 2021, 73 percent up, year-over-year.
USD = MXN 20.32 (February 21)