Ternium Argentina, the local subsidiary of Ternium and the country’s largest steelmaker, saw its net profit in both the full-year of 2019 and Q4 2019 decline on a year-on-year basis, the company said.
Net profit in the full-year of 2019 was ARS 11 billion ($180 million), 45.6 percent down, year-on-year. As for Q4 2019, the company posted a net profit of ARS 3.1 billion ($50.5 million), 74.9 percent down, year-on-year.
Net revenues in Q4 rose nearly 5 percent, year-on-year, to ARS 29.3 billion ($475.5 million). Steel sales volumes in Q4 reached 571,900 mt, up from 520,300 mt in Q4 2018.
Most of Ternium Argentina’s steel sales—about 448,200 mt in Q4 2019—was destined to the domestic market, and only 123,700 mt went to the export market, the company said.
USD = ARS 61.64 (February 19)