Peruvian steelmaker Aceros Arequipa said net profit in Q2 increased 11.1 percent, year-on-year, to PEN 40 million ($11.8 million). The company attributed the increased net profit to lower operating expenses and currency exchange gains in the year-on-year period.
Net revenue in Q2 totaled PEN 684 million ($202 million), 4.4 percent up, year-on-year, due to higher steel sales volumes, the company said.
The company reported a gross profit of PEN 96 million ($28.3 million), 3.6 percent down, year-on-year. Gross margin in Q2 reached 14 percent, down from 15 percent in the same quarter of the year prior. EBITDA in Q2 was PEN 80 million ($23.6 million), 0.3 percent up, year-on-year. EBITDA margin in Q2 remained stable at 12 percent, same as in Q2 2018.
USD = PEN 3.38 (August 9)