NET PROFIT OF MEXICAN FIRM FALLS IN Q2 DUE TO RISING EXPENSES

8 August, 2022 by
Administrator

Due to rising sales costs and expenses, steel maker Ternium reported a 19% decline in net profit from the second quarter of the prior year.

The business had a net profit of 936 million dollars.

The cost of sales increased from USD 2.4 billion to USD 3.1 billion.

As steel prices increased, Ternium, which has operations in Mexico, Brazil, Argentina, Colombia, the United States, and Central America, reported revenue of USD 4.4 billion, a 13 percent rise.

Adjusted profits before interest, tax, depreciation, and amortization (EBITDA) rose to USD 1.2 billion for the three months ending in June, a decrease of 14% from the same time last year.

The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.

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