Ternium Argentina, the local subsidiary of Latin America-focused steelmaker Ternium, went from a net loss of ARS 641 million ($6.8 million) in Q1 2020 to post a net profit of ARS 22.1 billion ($236.2 million) in Q1 2021, the company said while releasing its quarterly results.
Ternium Argentina said net revenues in Q1 surged 178.8 percent, year-over-year, to ARS 60.29 billion ($643.6 million). Steel sales volumes in Q1 this year increased 54 percent, year-over-year, to 623,100 mt.
USD = ARS 93.68 (May 3)