Mexican steelmaker Industrias CH's net sales increased by 57% in 2021, going up from MXN 39,565 million in 2020 to MXN 62,023 million as sales went up from 2.709 million tonnes in 2020 to 2.812 million tonnes in 2021. Oversea sales in the twelve months of 2021 increased 54% YoY to MXN 28,264 million while domestic sales increased 60% YoY to MXN as average sales prices increased by approximately 51% comparing both periods.The Compartía's EBITDA increased 130% to MXN 16,589 million in the twelve months of 2021 compared to MXN 7,217 million for the same period of 2020, mainly due to the higher number of tonnes shipped, as well as higher average sales prices; which neutralized the negative effects derived from higher costs of raw materials and higher operating expenses.The Compartía recorded an increase in consolidated net income of 260% YoY from MXN 11,786 million in the twelve months of 2021 compared to a net income of MXN 3,278 million for the twelve months of 2020, which is mainly explained by the foreign exchange profit recorded in the 2021 period compared to the foreign exchange loss in the same period of 2020, as well as the greater number of tons shipped and higher average sales prices than they outweighed the negative effects of higher raw material costs, higher selling and administrative expenses; higher tax expense provisions.Throughout 70 years, Industrias CH has developed a key role in the industrialization process of México. ICH is a Mexican Steel company, which produces & processes steel & has had continuous growth for the past 27 years. ICH is the largest producer of special bar quality steels in North America and a top producer of commercial and structural steel long products in México.
Mexican steelmaker Industrias CH's net sales increased by 57% in 2021, going up from MXN 39,565 million in 2020 to MXN 62,023 million as sales went up from 2.709 million tonnes in 2020 to 2.812 million tonnes in 2021. Oversea sales in the twelve months of 2021 increased 54% YoY to MXN 28,264 million while domestic sales increased 60% YoY to MXN as average sales prices increased by approximately 51% comparing both periods.The Compartía's EBITDA increased 130% to MXN 16,589 million in the twelve months of 2021 compared to MXN 7,217 million for the same period of 2020, mainly due to the higher number of tonnes shipped, as well as higher average sales prices; which neutralized the negative effects derived from higher costs of raw materials and higher operating expenses.The Compartía recorded an increase in consolidated net income of 260% YoY from MXN 11,786 million in the twelve months of 2021 compared to a net income of MXN 3,278 million for the twelve months of 2020, which is mainly explained by the foreign exchange profit recorded in the 2021 period compared to the foreign exchange loss in the same period of 2020, as well as the greater number of tons shipped and higher average sales prices than they outweighed the negative effects of higher raw material costs, higher selling and administrative expenses; higher tax expense provisions.Throughout 70 years, Industrias CH has developed a key role in the industrialization process of México. ICH is a Mexican Steel company, which produces & processes steel & has had continuous growth for the past 27 years. ICH is the largest producer of special bar quality steels in North America and a top producer of commercial and structural steel long products in México.
