/C O R R E C T I O N -- Grupo Simec, S.A.B. de C.V./

Other Expenses (Income) net  
The company recorded other net income of Ps. 547 million in the twelve-month period ended December 31, 2020 compared to other net expenses of Ps. 31 million in the same period of 2021.

Operating Income 
Operating income increased 158% from Ps. 5,185 million for the twelve-month period ended December 31, 2020 to Ps. 13,380 million in the same period of 2021. Operating income as a percentage of net sales represented 24% and 14% for the 2021 and 2020 periods respectively.

EBITDA
The EBITDA of the Company increased 119% from Ps. 6,637 million in the twelve-month prior ended December 31, of 2020, as a result a net income of Ps. 2,957, plus income taxes of Ps. 1,919, plus comprehensive financial cost of Ps. 309, plus depreciation of Ps. 1,452 to Ps. 14,542 million in the same period of 2021 as a result a net income of Ps. 10,227, plus income taxes of Ps. 3,436, less comprehensive financial cost of Ps. 283, plus depreciation of 1,162.

Comprehensive Financial Cost
Comprehensive financial cost in the twelve-month period ended December 31, 2021 represented a net income of Ps. 283 million compared with a net expense of Ps. 309 million in the same period of 2020. The net interest was an expense of Ps. 22 million in 2021 compared with a net income of Ps. 54 million in the twelve-month period ended December 31, 2020. As a result, we registered a net exchange profit of Ps. 305 million in the twelve-month period ended December 31, 2021 compared with a net exchange loss of Ps. 363 million in the same period of 2020, reflecting a 2.91% increase in the value of the peso versus the dollar in the twelve-month period ended December 31, 2021 compared to December 31, 2020.

Income Taxes 
The Company have recorded an expense net tax of Ps. 3,436 million in the twelve-month period ended December 31, 2021 (including the expenses of deferred tax of Ps. 238 million) compared with a net expense tax of Ps. 1,919 million in the same period of 2020 (including the tax deferred expense of Ps. 81 million).

Net Income (loss) 
As a result of the foregoing, net income increased by 246% from Ps. 2,957 million net profit in the twelve-month period ended December 31, 2020 to Ps. 10,227 million a result net income in the same period of 2021. 

Liquidity and Capital Resources 
As of December 31, 2021, Simec's total consolidated debt consisted of U.S. $302,000 of 8 7/8% medium-term notes ("MTN's") due 1998, Ps. 6.2 million (accrued interest on December 31, 2021 was U.S. $671,437 or Ps. 13.8 million).  As of December 31, 2020, Simec's total consolidated debt consisted of U.S. $302,000 of 8 7/8% medium-term notes ("MTN's") due 1998, Ps. 6.0 million (accrued interest on December 31, 2020 was U.S. $640,393, or Ps. 12.8 million).

Comparative fourth quarter 2021 vs third quarter 2021

Net Sales  
Net sales decreased from Ps. 14,122 million in the third quarter of 2021 to Ps. 12,886 million for the fourth quarter of 2021. Sales in tons decreased from 585 thousand ton in the third quarter of 2021 to 550 thousand ton in the fourth quarter of the same period, a decreased of 6%. Total sales outside of Mexico for the fourth quarter of 2021 decreased 8% from Ps. 6,838 million in the third quarter to Ps. 6,279 million in the four quarter of 2021. Sales in Mexico decreased to Ps. 6,607 million in the fourth quarter of 2021 compared Ps. 7,284 million in the third quarter of 2021 and decreased of 9%. Prices of finished products sold in the fourth quarter of 2021 decreased 3% compared with the third quarter of the same period.

Cost of Sales
Cost of sales decreased to Ps. 9,302 million in the fourth quarter of 2021 compared to Ps. 9,913 million for the third quarter of 2021. With respect to sales, in the fourth quarter of 2021, the cost of sales represented 72% in the fourth quarter of 2021, compared to 70% in the third quarter of the same period. The average cost of sales by ton remained in the fourth quarter of 2021 versus the third quarter of 2021.

Gross Profit 
Gross profit of the Company for the fourth quarter of 2021 decreased 15% to Ps. 3,584 million compared to Ps. 4,209 million in the third quarter of 2021. The gross profit as a percentage of net sales for the third and fourth quarter of 2021 was of 30% and 28% respectively.

Operating Expenses 
Selling, general and administrative expenses increased 17% to Ps. 595 million in the fourth quarter of 2021 compared to Ps. 508 million for the third quarter of 2021. Selling, general and administrative expenses as a percentage of net sales for the third and fourth quarter of 2021 was of 5% and 4% respectively.

Other Expenses (Income) net   
The company recorded other net income of Ps. 20 million in the fourth quarter of 2021 compared to other net expenses of Ps. 20 million for the third quarter of 2021.

Operating (Loss) Income  
Operating income was of Ps. 3,009 million in the fourth quarter of 2021 compared to an operating income of Ps. 3,681 million in the third quarter of 2021. The operating income as a percentage of net sales represented 26% and 23% for the third quarter and fourth quarter periods respectively.

EBITDA 
The EBITDA was Ps. 3,974 million in the third quarter of 2021 as a result a net income of Ps. 3,313, plus income taxes of Ps. 674, less comprehensive financial cost of Ps. 306, plus depreciation of Ps. 293 compared to Ps. 3,285 million for the fourth quarter of 2021, as a result a net profit of Ps. 1,937, less minority stake of Ps. 1 million, plus income taxes of Ps. 1,131, less comprehensive financial cost of Ps. 58, plus depreciation of Ps. 276.

Consolidated
Million		Comparative fourth quarter vs third quarter 2021
		4Q 2021				3Q 2021
Net income (loss)			1,937				3,313
Loss attributable to noncontrolling interests			(1)				0
Net income (loss)			1,936				3,313
Depreciation, depletion and amortization			276				293
Income taxes			1,131				674
Financial results income (loss)			(58)				(306)
EBITDA			3,285				3,974
Items to reconciled adjusted EBITDA
Equity results and other results in associates and joint ventures			0				0
Dividends received and interest from associates and joint ventures (i)			0				0
Impairment and disposal of non-current assets			0				0 Werbung Mehr Nachrichten zur Grupo Simec Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 08:24 - PR Newswire Invesco Investment Trusts - Portfolio Update 02:00 - PR Newswire Invesco Perpetual UK Smaller Co's Investment Trust Plc - Annual Financial Report Paukenschlag in USA    Cannabis-Neuregulierung durch DEA sorgt für Kursexplosion! weiterlesen» Anzeige wo-site-teaser-box-16809_site-teaser-box_2024-05-01_09%253A00%253A00_2024-05-02_09%253A00%253A59