Mexican steelmaker Industrias CH (ICH) went from a net loss of MXN 535 million ($26.3 million) in Q4 2020 to post a net profit of MXN 2.19 billion ($108.1 million) in Q4 2021, the company said while releasing its quarterly results.
Net revenues in Q4 2021 rose 31 percent, year-over-year, to MXN 14.58 billion ($718.9 million). Despite the increased year-over-year revenue, steel sales volumes in Q4 2021 fell 12 percent, year-over-year, to 603,000 mt.
Gross profit in Q4 2021 rose 108 percent, year-over-year, to MXN 4.32 billion ($213.2 million). The company reported an EBITDA of MXN 3.93 billion ($193.8 million), 90 percent up, year-over-year.
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