Ternium Argentina goes from profit to loss in Q2

Ternium Argentina goes from profit to loss in Q2

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Ternium Argentina, formerly known as Ternium Siderar, went from a net profit of ARS 4.13 billion ($56.8 million) in Q2 2019 to post a net loss of ARS 800,000 ($10,995).

The company said net revenues in Q2 this year reached ARS 21.8 billion ($300.8 million), 20 percent down, year-on-year. Steel sales volumes in Q2 decline 28.2 percent, year-on-year, to 405,200 mt.

Ternium Argentina said that despite the negative effects of Covid-19, the company still maintains a solid financial position.

USD = ARS 72.7 (August 7)

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