Peruvian longs steelmaker Aceros Arequipa saw its net profit decline nearly 60 percent in Q4, year-on-year, the company said on Monday while releasing its quarterly results.
The company’s net profit fell from PEN 31.9 million ($9.72 million) in Q4 2015 to PEN 13.09 million ($3.99 million) in Q4 2016.
Aceros Arequipa attributed the decline in net revenues in Q4 2016, which fell 7 percent year-on-year to PEN 511.3 million ($155.8 million) due to lower selling prices.
Aceros Arequipa’s EBITDA in Q4 2016 was PEN 66 million ($20.1 million), 15 percent down, year-on-year, while its EBITDA margin in the same period was 13 percent, as compared to a 14 percent EBITDA margin reported in Q4 2015.
1 USD = PEN 3.28 (January 30)