Mexican steelmaker Industrias CH (ICH) went from a net profit of MXN 3.77 billion ($193.8 million) in the full-year of 2018 to post a net loss of MXN 827 million ($42.4 million) in the full-year of 2019.
The company said net revenues in 2019 fell 8 percent, year-on-year, to MXN 37.7 billion ($1.9 billion). Gross profit in full-year 2019 was MXN 5.08 billion ($260.6 million), 17 percent down, year-on-year.
ICH said EBITDA in the full-year of 2019 reached MXN 4.76 billion ($244.2 million), 20 percent down, year-on-year.
As for Q4, ICH said net loss was MXN 2.75 billion ($141.2 million), down from a net profit of MXN 75 million ($3.8 million) in Q4 2018.
USD = MXN 19.49 (March 2)