MEXICO CITY Mexican steelmaker Altos Hornos de México SAB de CV (Ahmsa) saw revenues fall by 4.8 percent year over year in the first quarter of 2013.
The companys net profit fell to 266 million pesos ($21.8 million) in the three months ended March 31, down from 385 million pesos in the corresponding period of 2012, the company said in a report filed with Mexicos stock exchange late last week. Sales fell to 9.3 billion pesos ($761.3 million) compared with 9.77 billion pesos in the same comparison.
Ahmsa shipped 860,266 tonnes of steel products in the first three months of the year. It did not, however, disclose corresponding sales figures for the first quarter of 2012.
Operational profit reached 306 million pesos ($25.2 million), down 39 percent from 502 million pesos in the same period last year.
Earnings before interest, taxes, depreciation and amortization (Ebitda) reached 558 million pesos ($45.9 million) in first-quarter 2013, down from 1.37 billion pesos in the same period last year, the company said.
A version of this article was first published in AMM sister publication Steel First.