Ternium Argentina returns to profit in Q1

Monday, 03 May 2021 00:28:52 (GMT+3)   |   Sao Paulo

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)

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