Latin American steelmaker Ternium SA reported that net income in Q2 2012 was US$125.1 million, a decrease of US$65.4 million compared to Q1, and US121.8 million lower than net income in Q2 2011. In the first half of 2012, Ternium's net income of US$315.6 million reflected a decrease of US$174.5 million year-on-year.
Sales fell 8 percent year-on-year to US$2.2 billion in Q2, even as shipments of flat and long products were 2.2 million tons, relatively stable compared to Q2 2011, with higher shipments in North America offsetting lower shipments in South and Central America.
Sales of flat and long products in the North American region were US$1.2 billion in Q2 2012, a decrease of 2 percent compared to the same period in 2011 mainly due to lower revenue per ton partially offset by higher shipments. Shipments in the region totaled 1.3 million tons during Q2 2012, or 9 percent higher than in the same period in 2011.
Flat and long product sales in the South and Central America region were US$897.6 million during Q2, a decrease of 13 percent compared to the same period in 2011 mainly as a result of lower shipments and lower revenue per ton.