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Steel News April 27, 2022 04:25:12 PM

Steelmaker Ternium Posted Surge in Steel Shipments During Q1 2022

Paul Ploumis
ScrapMonster Author
The company reported net cash position of $1.6 billion at the end of the quarter, said the company press release.

Steelmaker Ternium Posted Surge in Steel Shipments During Q1 2022

SEATTLE (Scrap Monster): Luxembourg-based steelmaker Ternium S.A announced results for the first quarter ended 31 March, 2022.

The company reported EBITDA of $1.2 billion during the quarter with EBITDA margin of 28% and EBITDA per ton of $409.5. The net income totalled f $775.6 million. The net cash provided by operating activities amounted to $692.3 million, whereas the working capital recorded decline by $331.4 million. Ternium’s free cash flow during the quarter was $567.5 million. The company reported net cash position of $1.6 billion at the end of the quarter, said the company press release.

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The steel shipments by the company surged 4% over the sequential quarter to total around 3 million tonnes. The first quarter volumes in Mexico were up significantly by 12%, but were partially offset by seasonally lower shipments in the Southern Region. On a year-on-year basis, shipments in the first quarter witnessed a decline of 5%. Also, the volume of slabs shipped to third parties decline on a sequential and year-on-year basis, due to integration of the company’s slab facility in Brazil.

Ternium expects EBITDA to sequentially increase in the second quarter of the year, primarily due to an increase in realized steel prices and anticipated further growth in steel shipments.

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