Grupo Simec Announces Results of Operations for the First Six Months of 2021

Gross profit of the Company for the first half of 2021 increased 164% from Ps. 2,923 million in the first half of 2020, to Ps. 7,704 million in the first half of 2021. Gross profit as percentage of net sales in the first half of 2021 was of 27%, while in the first half of 2020 was of 18%. The gross profit between both periods is given by better mix products shipped and higher average price.

Selling, General and Administrative Expense

Selling, general and administrative expense increased 13%, from Ps. 867 million in the first half of 2020 to Ps. 984 million in the same period 2021, selling, general and administrative expense represented 5% of the net sales in the second quarter of 2020 and 3% in the second quarter of 2021.

Other Income (Expenses,) net

The Company recorded other expense net for Ps. 30 million in the first half of 2021 million compared to other income Ps. 160 million in the same period of 2020.

Operating Income

Operating income increased 202% from Ps. 2,216 million for the first half of 2020 compared to Ps. 6,690 million in the first half of 2021. Operating income as percentage of net sales was 23% in the first half of 2021 compared to 14% in the same period of 2020. The increase in operating profit is mainly due to the mix of products shipped and higher sales prices.

Ebitda

The Ebitda amounted to Ps. 2,851 million in the first semester of 2020 as a result of a net income of Ps. 2,460 million, less minority stake of Ps. 3 million, plus income taxes of Ps. 951 million, less comprehensive financial cost of Ps. 1,193 million, plus depreciation of Ps. 636 million to Ps 7,283 million in the first semester of 2021 as a result a net income of Ps. 4,977 million, plus minority stake of Ps. 1 million, plus income taxes of Ps. 1,631 million, plus comprehensive financial cost of Ps. 81 million, plus depreciation of Ps. 593 million.

Comprehensive Financial Cost

Comprehensive financial cost for the first half of 2021 represented an expense of Ps. 81 million compared with an income of Ps. 1,193 million for the first half of 2020. The comprehensive financial cost is comprised by the exchange loss of Ps. 55 million in the first half of 2021 compared with an exchange income of Ps. 1,148 million in the first half of 2020. Likewise, the Company recorded a net expense interest of Ps. 26 million for the first half of 2021 compared with a net income interest of Ps. 45 million in 2020.

Income Taxes

The Company recorded an expense of Ps. 1,631 million for the net income tax during the first half of 2021, (comprised for a current expense tax of Ps. 1,610 million and expense for deferred tax of Ps. 21 million) compared with an expense of Ps. 951 million to the first half of 2020 (comprised for a current expense tax of Ps. 954 million and income for deferred tax of Ps. 3 million).

Net Income

As a result of the foregoing, the Company recorded an increase in net income of 102% to pass of Ps. 2,460 million in the first half of 2020 to Ps. 4,977 million in the same period of 2021.

Comparative second quarter of 2021 vs. first quarter of 2021

Net Sales

Net sales of the Company increased 14% in the second quarter of 2021 compared to the first quarter of the same period, to pass of Ps. 13,355 million during the first quarter of 2021 to Ps. 15,258 million in the second quarter of 2021. Shipments of finished steel products increased from 682 thousand tons in the first quarter of 2021 to 687 thousand tons in the second quarter of the same year. Total sales outside of Mexico in the second quarter of 2021 increased 16% to get to Ps. 7,767 million compared to Ps. 6,691 million of the first quarter of the same year. Domestic sales increased from Ps. 6,664 million in the first quarter of 2021 to Ps. 7,491 million in the second quarter of the same year. The sales increased mainly higher shipped by 5 thousand tons compared with the first quarter that represent a 1% and an income sales price in 13%.

Cost of Sales

Cost of sales increased 8% from Ps. 10,055 million in the first quarter of 2021 to Ps. 10,854 million in the second quarter of 2021. Cost of sales as a percentage of net sales represented 75% for the first quarter of 2021 compared to 71% in the second quarter of the same year, the average cost of sales by ton record an increase between both quarters of 7%.

Gross Profit

Gross profit of the Company for the second quarter of 2021 increased 33% to pass of Ps. 3,300 million in the first quarter of 2021 to Ps. 4,404 million in the second quarter of same year. Gross profit as a percentage of net sales represented 25% for the first quarter of 2021 compared to 29% in the second quarter of the same year. The gross profit in the second quarter of 2021 it originates from a higher average sale.

Selling, General and Administrative Expense

Selling, general and administrative expense increased 7%, from Ps. 475 million in the first quarter of 2021 to Ps. 509 million in the second quarter of the same year, and as percentage of net sales represented 4% in the first quarter of 2021 compared to 3% in the second quarter of the same year.

Other (Expenses) Income, net

The Company recorded other expenses net for Ps. 17 million during the second quarter of 2021 compared to other expenses net for Ps. 13 million in the first quarter of 2021.

Operating Income

Operating income increased 38%, of Ps. 2,812 million in the first quarter of 2021 compared to Ps. 3,878 million of the second quarter of the same year. Operating income as percentage of net sales was 21% for the first quarter of 2021 compared to 25% for the second quarter of the same year. The operating income is due mainly to a better average sale price.

Ebitda

The Ebitda amounted to Ps. 3,113 million in the first quarter of 2021 as a result of a net income of Ps. 2,644 million, less minority stake of Ps. 0 million, plus income taxes of Ps. 391 million, less comprehensive financial cost of Ps. 223 million, plus depreciation of Ps. 301 million to Ps 4,170 million in the second quarter of 2021 as a result of a net income of Ps. 2,333 million, plus minority stake of Ps. 1 million, plus income taxes of Ps. 1,240 million, plus comprehensive financial cost of Ps. 304 million, plus depreciation of Ps. 292 million.

Consolidated
Million		Comparative second quarter of 2021 vs first quarter of 2021,
		2021				2020
Net income (loss) attributable to Vale's stockholders			2,333				2,644
Loss attributable to noncontrolling interests			1
Net income (loss)			2,334				2,644
Depreciation, depletion and amortization			292				301
Income taxes			1,240				391
Financial results income (loss)			304				(223) 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 09:13 - Carsten Ringler Paukenschlag in USA: Cannabis-Neuregulierung durch DEA sorgt für Kursexplosion! 06:51 - PR Newswire Bodycote Plc - Director Declaration 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