Siderar S.A.I.C. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015
November 01, 2015
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Siderar S.A.I.C. reported consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net sales of ARP 5,957.0 million compared to ARP 5,575.3 million a year ago. Operating income was ARP 767.6 million compared to ARP 1,745.0 million a year ago. Income before income tax net result was ARP 493.0 million compared to loss of ARP 11 million a year ago. Result for the period attributable to equity holders of the company was ARP 499.3 million or ARP 0.1105 per share compared to loss of ARP 11 million or ARP 0.0024 per share a year ago. Net cash provided by operating activities was ARP 518.4 million compared to ARP 906.9 million a year ago. Capital expenditures were ARP 444.8 million compared to ARP 335.4 million a year ago.
For the nine months, the company reported net sales of ARP 17,075.2 million compared to ARP 15,550.8 million a year ago. Operating income was ARP 2,439.9 million compared to ARP 4,057.9 million a year ago. Income before income tax net result was ARP 2,070.4 million compared to ARP 2,328.2 million a year ago. Result for the period attributable to equity holders of the company was ARP 1,601.9 million or ARP 0.3546 per share compared to ARP 1,746.7 million or ARP 0.3867 per share a year ago. Net cash provided by operating activities was ARP 1,987.3 million compared to ARP 786.6 million a year ago. Capital expenditures were ARP 1,377.5 million compared to ARP 1,116.0 million a year ago. As of September 30, 2015, the company's consolidated net debt was ARP 546.0 million
In the fourth quarter of 2015, the company expects steel shipment levels to remain relatively stable compared to the third quarter of 2015. In addition, the company does not expect significant changes in the operating margin during the fourth quarter.
Ternium Argentina SA, formerly Siderar SAIC, is an Argentina-based company engaged in the steel industry. The Company's activities are divided into three segments: Coated steel, Uncoated steel and Others. The Coated steel division focuses on the production of galvanized, electrogalvanized, pre-painted and tinplate steel sheets. The Uncoated steel division is responsible for the manufacture of hot and cold rolled steel. The Others division includes steel slabs, ingot castings, as well as steel overrolling. Its products are used in various industries, such as automotive, construction, industrial machinery and commercial equipment. The Company operates in North and South America. The Company's subsidiaries include Prosid Investments SCA. It is controlled by Ternium Internacional Espana SL.
Siderar S.A.I.C. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015