Argentinian steelmaker Ternium Argentina went from a net loss of nearly ARS 1 million ($10,326) in Q2 2020 to post a net profit of ARS 33.1 billion ($341.87 million) in Q2 this year, the company said this week while releasing its quarterly results.
Ternium Argentina said net revenues in Q2 this year spiked over 254 percent, year-over-year, to ARS 77.62 billion ($801.60 million). Steel sales volumes in Q2 reached 650,200 mt, 60.4 percent up, year-over-year.
Out of the total volume of 650,200 mt Ternium Argentina sold in Q2 this year, 602,200 mt went to the domestic market, while the remaining 48,100 mt was supplied to the export market.
As for H1 this year, Ternium Argentina reported a net profit of ARS 55.24 billion ($570.4 million), up from the net loss of ARS 642 million ($6.6 million) it reported in H1 2020.
USD = ARS 96.83 (August 4)