Mexico's integrated steelmaker, Altos Hornos de México (Ahmsa), reported a net loss of 520 million Mexican pesos (US$40.3 million) in the third quarter of 2013. This compares with a net loss of 344 million Mexican pesos (US$26.6 million) over the same period last year, the company said in a filing with Mexico's stock exchange (BMV).
Earnings before interest, taxes, depreciation and amortization (Ebitda) reached US$38.2 million between July and September, but it did not disclose the corresponding figure for 2012.
Additonally, AHMSA's sales revenue was down by 2.1 percent year-on-year in the third quarter this year. Sales revenues totaled 9.47 billion Mexican pesos (US$735.2 million), against 9.68 billion Mexican pesos (US$751.1 million) a year earlier.
AHMSA shipped 886,524 metric tons of steel products between July and September this year. It also did not disclose corresponding sales figures for the third quarter of 2012. The steelmaker plans to "put the remaining equipment of the Fénix project into operation by the second quarter of 2014," said a company statement.
The Fénix expansion project started operations in July. The project comprises a 1.46 million ton-per-year blast furnace, 1.2 million tons-per-year electric arc furnace, a 1.2 million ton-per-year slab caster and a 1 million ton-per-year plate mill, which together cost around US$1.5 billion. AHMSA's crude steel production capacity will go up to 4.75 million tons per year from the previous 3.5 million tons per year.
