Mexican steelmaker Industrias CH (ICH) posted a net loss of MXN 979 million ($52 million) in Q4, reverting a MXN 293 million net profit it reported in the same quarter of the year prior.
ICH said net revenues in Q4 dropped 9 percent, year-on-year, to MXN 8.05 billion ($428 million).
Steel sales volumes in Q4 reached 573,000 mt, out of which 174,000 mt was specialty steel, 21,000 mt was tubes, and 378,000 mt was commercial steel products. The volume was down from 629,000 mt in the same quarter of the year prior.
The company’s EBITDA in Q4 decreased 11 percent, year-on-year, to MXN 1.34 billion ($71.4 million).
As for the full year of 2017, ICH saw its net profit decline 72 percent, year-on-year, to MXN 1.39 billion ($74 million).
USD = MXN 18.8 (February 27)