Latin America-focused steelmaker Ternium saw revenues increase for all its operating segments, with a stronger growth seen on its Mexican and Southern Region markets, the company said this week while releasing its quarterly results.
Ternium said revenues for its Mexican business in Q2 rose 167 percent, year-over-year, to $2.27 billion. Likewise, revenues for its Southern Region reporting segment in Q2 was $811.5 million, 177 percent up, year-over-year. The company said its other markets segments saw revenues in Q2 improve 39 percent, year-over-year, to $761.3 million.
Steel sales volumes in Mexico totaled 1.73 million mt, 48 percent up, year-over-year. Steel sales volumes in the Southern Region in Q2 increased 85 percent, year-over-year, to 636,000 mt. On the other hand, steel sales volumes in Q2 for Ternium’s other markets dropped 25 percent, year-over-year, to 697,000 mt.
Ternium posted a net profit of $1.15 billion in Q2, up from the $43.6 million net profit it reported in Q2 2020.