Ternium sees combined net revenues decline in Q3, despite increase in Mexican sales

Thursday, 03 November 2016 12:58:40 (GMT+3)   |  
       

Once again, steelmaking group Ternium saw its Mexican division play a major role in its latest quarterly results, similarly to what happened in Q2, as reported by SteelOrbis.
 
Ternium said net revenues at the company’s Mexican Region totaled $1.17 billion in Q3, 10 percent up, year­-on-year, as opposed to a decline of 30 percent, year­-on­-year, in the same period at its Southern Region, and a 1 percent growth at its Other Markets Region, totaling $452.5 million and $227.2 million, respectively.
 
The combined steel products net revenues for the three regions totaled $1.85 billion in Q3, 4 percent down, year-on-year.
 
“Steel market conditions in Argentina remained weak in Q3 2016, however, Ternium believes domestic steel demand has started to rebound,” it said, confirming Alacero’s and Ternium’s forecasts for the year to come released late in October during the Alacero conference.
 
“The automotive industry in the country continues to operate at a low capacity utilization rate, although domestic automobile sales have been growing in the past few months and auto exports to Brazil, the major export destination for Argentina’s car industry, should increase if expectations for an economic recovery in that country come to fruition. After a transition period in 2016, the company expects Argentina to return to growth in 2017,” it said.
 
As for its Mexican division, Ternium said the automotive and the household appliance industries are “steady,” while the civil construction segment is “weak” as a result of “low government infrastructure spending and a deceleration of private construction growth.”

Similar articles

Mexican steelmaker Simec reverses losses with net profit of $77 million Q4

29 Feb | Steel News

Mexico’s Grupo Collado reverses loss, posts net profit in Q4

29 Feb | Steel News

Minera Autlán reports net profit of $2.7 million in Q4

26 Feb | Steel News

Ternium reports explosive 839 percent increase in Q4 profits

21 Feb | Steel News

Grupo Collado reports 98 percent drop in net earnings for Q3

30 Oct | Steel News

Minera Autlán reports net loss of $9.8 million in Q3

26 Oct | Steel News

Mexican Simec's net profit falls 7.1 percent in Q3

26 Oct | Steel News

Mexico’s Grupo Collado reports 43 percent jump in net income for Q2

31 Jul | Steel News

Minera Autlán reports net loss of $19.4 million in Q2

27 Jul | Steel News

Grupo Simec’s cash reserves for investment grows to $1.1 billion in June

25 Jul | Steel News