Peruvian steelmaker Aceros Arequipa posted a PEN 31.93 million ($9.19 million) net profit in Q4, 90.7 percent up, year-on-year, from PEN 16.74 million ($4.81 million), the company said.
Despite the increase in profit, net revenues fell 10 percent, year-on-year, from PEN 613.96 million to PEN 552.57 million in Q4.
According to the steelmaker, gross margin in Q4 was 22 percent, up from 18 percent in the same period of the year prior. The steelmaker attributed the higher margin to decreased raw material prices and to a decline in the cost of sales.
Aceros Arequipa’s EBITDA in Q4 was PEN 78 million, 18 percent up, year-on-year.