Peru’s Aceros Arequipa posts decreased net profit in Q1

Monday, 06 May 2019 23:58:35 (GMT+3)   |   Sao Paulo

Peruvian steelmaker Aceros Arequipa saw its net profit in Q1 decline 16.1 percent, year-on-year, to PEN 43.5 million ($13.1 million), the company said while releasing its quarterly results.

Net revenues in Q1 reached PEN 645.4 million ($195 million), 1.8 percent down, year-on-year, and 1.8 percent down, quarter-on-quarter, due to lower steel sales volumes and reduced steel selling prices.

Gross profit in Q1 was PEN 96 million ($29 million), 16.3 percent down, year-on-year. Gross margin in Q1 dropped to 15 percent, from 17 percent in Q1 2018. EBITDA in Q1 declined 13.8 percent, year-on-year, to PEN 84 million ($25.3 million).

USD = PEN 3.30 (May 6)

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