Steelmaker Ternium saw both its Mexican and Southern Region segments increase their revenues in Q1 by 31 and 10 percent, respectively, to nearly $1.3 billion and $511.4 million, the company said this week while releasing its quarterly results.
The Southern Region segment manages the company’s businesses in Argentina, Paraguay, Brazil, Chile, Bolivia and Uruguay.
The two segments accounted for nearly 90 percent of the company’s total revenues of $2 billion.
As for Q1, Ternium posted an overall $310.4 million net profit, a 151.1 percent increase, year-on-year, from Q1 2016.
Steel sales volumes rose 2 percent in Q1, year-on-year, to 2.4 million mt, while iron ore sales volumes grew 3.5 percent in the same period to 863,000 mt.