Grupo Simec, S.A.B. De C.V. Reports Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2016
May 04, 2017 at 06:43 pm EDT
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Grupo Simec, S.A.B. de C.V. reported earnings and operating results for the fourth quarter and year ended December 31, 2016. For the quarter, the company has posted sales of MXN 8,001 million against MXN 4,925 million a year ago. Operating profit was MXN 539 million against loss of MXN 3,722 million a year ago. EBITDA was MXN 1,067 million against loss of MXN 3,306 million a year ago. Net income was MXN 183 million against loss of MXN 3,581 million a year ago.
For the year, the company has posted sales of MXN 27,516 million against MXN 24,476 million a year ago. Operating profit was MXN 3,427 million against loss of MXN 2,102 million a year ago. EBITDA was MXN 4,856 million against loss of MXN 841 million a year ago. Net income was MXN 4,343 million against loss of MXN 3,261 million a year ago.
For the quarter, total sales were 429 tons against 358 tons a year ago.
For the year, total sales were 2,085 tons against 2,026 tons 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. 