Steelmaking group Ternium saw its net revenues rise in Mexico, at the same time revenues at its Southern Region segment fell, it said on Wednesday while releasing its quarterly results. The Southern Region operating segment manages the company’s businesses in Argentina, Paraguay, Brazil, Chile, Bolivia and Uruguay.
According to Ternium, net revenues in Mexico in Q4 rose 18.2 percent, year-on-year, to $1.12 billion. On the other hand, revenues at its Southern Region segment declined 23.3 percent, year-on-year, in the same period to $498.3 million.
As for the full year of 2016, Ternium’s revenues in Mexico totaled $4.4 billion, up from $4.3 billion in 2015. Net revenues at Ternium’s Southern Region segment in 2016 declined 27.3 percent, year-on-year, to $1.8 billion, it said.
Steel shipments in Mexico in Q4 reached 1.5 million mt, up from 1.4 million mt in the same quarter of 2015. As for its Southern Region segment, steel shipments dropped 10.2 percent in Q4, year-on-year, to 577,500 mt.