Peruvian steelmaker Aceros Arequipa posted a PEN 34 million ($10.24 million) net profit in Q2, 209 percent, year-on-year. The increased net profit was attributed to a better rate for the Peruvian currency as compared to previous quarters.
Aceros Arequipa said EBITDA in Q2 was PEN 65 million, 5 percent down, year-on-year, while EBTIDA margin in the same period reached 13 percent, same as in Q2 2015, but lower when compared to the 16 percent EBITDA margin reported in Q1 this year.
Net sales in Q2 totaled PEN 492 million, 8 percent down, year-on-year, due to lower selling prices.
Aceros Arequipa’s gross profit in Q2 was 91 million, 4 percent down, year-on-year.
1 USD = 3.32 PEN (July 22)