Mexican steel producer Industrias CH (ICH) saw its net profit in Q3 decline 43 percent, year-on-year, to MXN 935 million ($48.7 million), the company reported in its quarterly results.
When compared to Q2 this year, ICH’s net profit rose 36 percent, quarter-on-quarter, from MXN 687 million ($35.8 million).
The company said net revenues in Q3 totaled MXN 8 billion ($417.2 million), 7 percent up, year-on-year. EBITDA in Q3 was MXN 1.19 billion ($62.4 million), 19 percent down, year-on-year.
Sales volumes in Q3 rose 5 percent, year-on-year, to 631,000 mt, ICH said. It said average steel selling prices rose 2 percent in Q3, year-on-year.
USD = MXN 19.17 (October 26)