Mexico’s Grupo Simec saw increased sales by 78pc to MXN28.61bn ($1.44bn) in H1 2021, compared to MXN 16.1bn in the same period of 2020. Export sales increased 77pc to MXN14.46bn in H1 2021 against the MXN8.17bn in H1 2020. Exports comprised 50.6pc of total revenue in the half year. Domestic sales rose by 79pc to MXN14.16bn in the H1 2021 compared to MXN7.93bn in the same year-ago period.
The average sales price of steel products surged 51pc in H1 2021 as volumes rose 18pc, both compared to H1 last year.
Shipments rose by 18pc to 1.37mn mt in H1 2021 from 1.16mn mt in the same year-ago period. Sales revenue for Grupo Simec rose by 14pc in Q2 to MXN15.26bn against Q1. Shipments of finished steel climbed by 0.7pc to 687,000mt in Q2 from 682,000mt in Q1. Exports rose by 16pc to MXN7.77bn in Q2 as domestic sales improved by 12pc to MXN7.5bn in Q2, both against Q1 levels.
Gross profit jumped by 164pc to MXN7.7bn in H1 2021 compared to MXN2.92bn in the same period last year as gross profit as a percentage of sales improved to 27pc from 18pc in the same period comparison. Net income doubled from MXN4.98bn in H1 2021 compared to MXN2.46bn in H1 last year as EBITDA rose 155pc to MXN7.3bn in H1 2021 against MXN2.85bn in the same period last year.