Peruvian steelmaker Aceros Arequipa saw its net profit in Q4 decline 27.5 percent, year-on-year, to PEN 42.4 million, the company said while releasing its quarterly results.
Aceros Arequipa attributed the decline in Q4 net profit to a lower gross profit, which reached PEN 110.5 million in Q4 2018, down from PEN 119.2 million in the same quarter of the year prior.
Aceros Arequipa said net revenues in Q4 rose 3.8 percent, year-on-year, to PEN 657.1 million. Gross margin in Q4 was 17 percent, down from 19 percent in Q4 2017. EBITDA was PEN 90 million in Q4, 7.9 percent down, year-on-year, but 18.3 percent up, quarter-on-quarter. The company’s EBITDA margin in Q4 was 14 percent, down from a 15 percent EBITDA margin Q4 2017.