Grupo Simec, S.A.B. De C.V. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
February 28, 2020 at 06:37 am EST
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Grupo Simec, S.A.B. De C.V. Announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced operating income was MXN 209.931 million compared to MXN 434.951 million a year ago. Net loss was MXN 2,628.861 million compared to net income of MXN 329.956 million a year ago. Basic loss per share was MXN 0.01 compared to basic earnings per share of MXN 0.66 a year ago. For the full year, operating income was MXN 2,887.520 million compared to MXN 4,049.978 million a year ago. Net loss was MXN 1,035.707 million compared to net income of MXN 3,516.321 million a year ago. Basic loss per share was MXN 0.01 compared to basic earnings per share of MXN 7.07 a year ago.
Grupo Simec SAB de CV is a Mexico-based company primarily engaged in producing, processing and distributing special steels and structural steel sections. The Company identifies its operating segments by regions: Mexico and the United States of America. The Firm's Mexican segment includes the Mexicali, Guadalajara, Tlaxcala and San Luis Potosi plants. The United States segment includes seven plants, six of which are located in the states of Ohio, Indiana and New York. The segments manufacture and sell steel products destined mainly for the construction and automotive industries. The Company, through its subsidiaries, is also present in Brazil and the Netherlands.
GRUPO SIMEC, S.A.B. DE C.V. 
