The Peruvian steel producer Siderperu announced a net profit of $30.5 million in 2023, 47.5 percent lower than in 2022.
Net sales declined by 13.1 percent to $627.6 million, production costs declined by 7.5 percent to $574.2 million, the gross profit declined by 47.1 percent to $53.4 million and the operational profit declined by 36.4 percent to $54.5 million.
The declining results reportedly derive from lower volumes and average prices of the products sold.
Controlled by the Brazilian Gerdau group, Siderperu has a production capacity estimated at 750,000 mt per year.