Mexican steelmaker Grupo Simec saw its net loss in Q1 rise to MXN 177.5 million from MXN 84 million in the same quarter of the year prior, the company said this week, while releasing its Q1 results.
According to the Mexican steelmaker, net sales in Q1 declined 12 percent, year-on-year, to MXN 6.10 billion, mainly as a result of a decrease in steel shipments. Steel shipments in Q1 diminished 8 percent, year-on-year, to 528,000 mt.
Simec’s EBITDA in Q1 slightly rose 1 percent, from MXN 876 million in the same quarter of the year prior to MXN 883 million.