Altos Hornos de México and Subsidiaries has presented its 2010 results to the Bolsa Mexicana de Valores (Mexican Stock Exchange). In that period, the company had an EBITDA of USD 367.8 million, up by 39.3% YoY.
AHMSA reached MXN 33,346 million in annual total sales of steel and coal, 26.8% higher than in 2009. Also, the accumulated income before the financing integral result (Operating Income) was MXN 1,772 million, 151.7% higher than last year.
In operative results, AHMSA concluded 2010 with a total production of 3,690,495 tonnes of liquid steel, which represents the highest historic level of the company, a volume higher than the 3,677,062 tonnes produced in 1998. This level of production resulted in a new annual record in finished products, reaching 3,200,321 tonnes. It also took step to a new record in total delivery to domestic and foreign clients, with 3,206,000 tonnes of different steel products.
Presented to the broad during its quarterly meeting, the figures reflects a recovery in prices in the international markets in relation to the previous year, which AHMSA took advantage of via direct exports and co exports.
Mr Alonso Ancira chairman of the board expressed that the major incomes made possible to retake the development of the Fénix Project, having in full operation the new electrical substation and culminated the construction of the Blast Furnace No 6, unit that will start operations in March 2011.
The reactivation of the investments in the Fénix Project, along with the operation of new mines and a greater level of mining prospection has had an important impact in the economy of the State of Coahuila, generating more than 6,000 additional jobs through contractor companies.
Mr Alonso Ancira said that facing the constant variations in the price of the raw materials, mainly iron and coal, AHMSA has an excellent competitive advantage operating its own mining deposits. To maintain this advantage, AHMSA has intensified its exploration and development activities to extend its reserves.
|Item||FY '10||FY '09||YoY|
|Tons of steel sales||3,206,180||2,712,498||+18.2%|
|Operative result (MXN million)||1,772||704||+151.7%|
|Net Income (MXN million)||635||947||-32.9%|
|EBITDA (USD million)||367.8||264.0||+39.3%|
|Sales (MXN million)||33,346||26,308||+26.8%|