Peruvian steel producer Corporacion Aceros Arequipa posted a net profit of PEN 2 million ($516,800) for Q3 2023, a 95 percent decline from the same quarter in 2022.
Under the same comparative basis, net sales declined by 11.8 percent to PEN 1,137 million, gross profit declined by 30.7 percent to PEN 124 million, operational profit declined by 42.0 percent to PEN 69 million, and EBITDA declined by 28.5 percent to PEN 113 million.
According to the company, the low results reflect a combination of negative factors, including lower international sales prices, increased ratio of export sales with average prices lower than domestic prices, and increased losses in subsidiary companies.
USD = PEN 3.87 (October 27)
