Grupo Simec S.A.B. de C.V. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
October 23, 2017 at 07:58 pm EDT
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Grupo Simec S.A.B. de C.V. reported consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company’s sales were MXN 6,810 million compared to MXN 6,671 million a year ago. Operating profit was MXN 732 million compared to MXN 988 million a year ago. EBITDA was MXN 1,072 million compared to MXN 1,321 million a year ago. Net income was MXN 737 million compared to MXN 1,461 million a year ago.
For the nine months, the company’s sales were MXN 21,892 million compared to MXN 19,514 million a year ago. Operating profit was MXN 2,765 against MXN 2,887 million a year ago. EBITDA was MXN 3,856 against MXN 3,788 million a year ago. Net income was MXN 2,031 million against MXN 4,264 million a year ago. The increase in sales for the first nine months of 2017 is due to the decrease in the volume of shipments compared to the first nine months of 2016. The decrease in operating income is due to a mayor cost of some raw materials in the first nine months of 2017 compared with the same period of 2016.
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. 
