You are here: Home > Steel News > Latest Steel News > Profit...

Profit increases at Shougang Hierro Peru in 2023

Wednesday, 14 February 2024 20:28:28 (GMT+3)   |   Sao Paulo

Peruvian iron ore producer Shougang Hierro Peru (SHP) has posted a net profit of PEN 2.34 billion ($603.9 million) for 2023, 7.2 percent more than in 2022.

Net sales declined by 4.2 percent to PEN 6.25 billion, the production costs declined by 3.4 percent to PEN 2.82 billion, the gross profit declined by 4.8 percent to PEN 3.43 billion and the operational profit declined by 6.2 percent to PEN 3.16 billion.

The company ascribed the higher net profit, despite the lower operational performance, to higher financial gains and lower impact of exchange rate variations on its results in 2023, when compared to 2022.

During 2023, the company sold 18.6 million mt of iron ore, a volume roughly stable on yearly basis.

USD = PEN 3.87 (February 14)


Similar articles

Net profit increases slightly in Q3 2024 at Aceros Arequipa

06 Nov | Steel News

Net profit declines slightly at Siderperu

05 Nov | Steel News

Profit declines sharply at Shougang Hierro Peru in Q3 2024

29 Oct | Steel News

Profit declines at Shougang Hierro Peru in Q1 2024

02 May | Steel News

Quarterly profit increases sharply at Siderperu

02 May | Steel News

Annual profit declines at Siderperu

28 Feb | Steel News

Net profit declines in 2023 at Aceros Arequipa

09 Feb | Steel News

Net profit increases at Siderperu in Q3

02 Nov | Steel News

Profit declines sharply at Aceros Arequipa in Q3

27 Oct | Steel News

Profit declines at Shougang Hierro Peru in January-September period

27 Oct | Steel News