Latin American steelmaker Ternium has reported a net profit of $171.1 million for the fourth quarter of 2013, compared to a net loss of $231.2 million in the corresponding quarter of the previous year. In the full year 2013, Ternium's net profit increased to $592.9 million, rising from $190.9 million in 2012.
Sales revenue decreased by two percent year on year to $2.11 billion in the fourth quarter, while flat and long product shipments totaled 2.23 million mt, down three percent year on year.
In 2013, Ternium's sales revenue increased by three percent year on year to $8.5 billion, mainly as a result of lower steel products sales in Mexico and other markets, partially offset by higher steel products sales in the ‘Southern Region' (which encompasses the steel markets of Argentina, Bolivia, Chile, Paraguay and Uruguay) and higher iron ore sales to third parties. The flat and long product shipment of the company in 2013 amounted to 8.98 million mt, up three percent compared to the previous year.
Ternium expects steel shipments to increase sequentially in the first quarter of 2014, with an improvement in sales to industrial customers in Mexico partially offset by seasonally weaker volumes in Argentina. The company anticipates a relatively stable operating income in the current quarter compared to the previous quarter.