Mexican steel producer Industrias CH (ICH) went from a MXN 3.4 billion ($170.9 million) net loss in Q4 2015 to a MXN 1.3 billion ($65.3 million) net profit in Q4 2016, the company announced this week.
The company’s net revenues in Q4 rose 21 percent, year-on-year, to MXN 7 billion, while its cost of sales declined 35 percent in the same period to MXN 5.8 billion. The company’s EBITDA in Q4 was MXN 1.4 billion, up from the MXN 1.4 billion EBITDA loss it posted in the same quarter of 2015. Steel sales volumes in Q4 improved 5 percent, year-on-year, to 559,000 mt.
As for the full year 2016, ICH posted a MXN 6.1 billion net profit, up from the MXN 3.1 billion net loss it reported in 2015. Net revenues in 2016 rose 1 percent, year-on-year, to MXN 28.8 billion.
1 USD = MXN 19.81 (March 1)