The Peruvian steel producer, Siderperu, announced a net profit of PEN 45 million ($12 million) in Q2 2024, against PEN 12 million achieved in Q2 2023.
Net sales declined by 4.4 percent to PEN 595 million ($159.4 million), production costs declined by 11.9 percent to PEN 516 million ($138.41 million), the gross profit increased by 113.5 percent to PEN 79 million ($21.18 million), and the EBITDA increased by 99.7 percent to PEN 81 million ($21.7 million).
According to the company, in addition to the improved operational result derived from the management of the cost structure, the higher profit reflects also reduced financial expenses.
Controlled by the Brazilian Gerdau group, Siderperu has a production capacity estimated at 750,000 mt per year.
$=PEN 3.75 (August 02)