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AHMSA reports results for Q1 of 2019

Steel News - Published on Thu, 16 May 2019

Image Source: SteelGuru
Mexico’s top steelmaker Altos Hornos de Mexico remained loss-making in Q1 of 2019. During the reviewed period, AHMSA posted an adjusted EBITDA for the steel segment of USD 19.2 million, a 76.1% decline from Q1 2018. The net sales declined by 2.6% YoY to USD 734.4 million, driven primarily by a slight market contraction. Although the average price per steel tonne increased by 5.7% under favourable market conditions, it was almost completely offset by the impact of lower sales volumes of 920,553 tonnes or -9.1%.

Besides, cost of sales increased by 8.2%, mainly due to higher raw material costs and its usage, the company said. As a result, the company’s steel segment posted an operating loss of USD 17.8 million in Q1 2019, a USD 65.6 million decrease or 137.2% YoY

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Posted By : Rabi Wangkhem on Thu, 16 May 2019
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