The Peruvian steel producer Corporacion Aceros Arequipa posted a net profit of PEN 50 million ($13.37 million) for Q2 2024, against PEN 14 million for Q2 2023.
Net sales have declined by 14 percent to PEN 1.034 billion, while the gross profit increased by 75.8 percent to PEN 167 million and the EBITDA increased by 64.4 percent to PEN 148 million.
According to the company, the improved result reflects the recovery of sales margins in Peru, Colombia, and Bolivia due to increased sales volume and reduced costs chiefly for rebars, flat products, and piping.
$=PEN 3.74 (July 29)