Grupo Simec reports lower sales, net income in 2015

Grupo Simec, S.A.B. de C.V. announced its results of operations for the twelve-month period ended December 31, 2015 and December 31, 2014.
  
Net sales decreased 6 percent by the combination of lower shipments of finished steel products by 4 percent and a lower average sales price by 3 percent, compared the same period of 2014, the sales decline from MXN 26,829 million ($1.501 billion) in the twelve-month period ended December 31, 2014 to MXN 25,096 million ($1.404 billion) in the same period of 2015.

Shipments of finished steel products decrease 4 percent to 2.119 million tons in the twelve-month period ended December 31, 2015 compared to 2.197 million tons in the same period of 2014. Total sales outside of Mexico on the twelve-month period ended December 31, 2015 decreased 22 percent to MXN 10,339 million ($578.6 million) compared with MXN 13,314 million ($745.05 million) in the same period of 2014. Total sales in Mexico increased 9 percent from MXN 13,515 million ($756.3 million) in the twelve-month period ended December 31, 2014 to MXN 14,757 million ($825.8 million) in the same period of 2015.  The decrease in sales is due to lesser shipments of finished steel products by 4 percent and a lower average sales price by 3 percent.
  
Net income decreased by 25 percent from MXN 1,204 million ($67.38 million) in the twelve-month period ended December 31, 2014 to a net income of MXN 901 million ($50.42 million) in the same period of 2015. 

1 USD = MXN 17.88 (March 1)