GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE TWELVE-MONTH PERIOD ENDED DECEMBER 31, 2024 AUDITED.
Grupo Simec reported its audited financial results for the year ended December 31, 2024, showing mixed performance. Net sales decreased 18% to Ps. 33,658 million, driven by a 6% reduction in steel shipments and a 13% lower average sales price compared to 2023.
Despite challenges, net income surged 145% to Ps. 10,488 million in 2024. The company's EBITDA decreased 26% to Ps. 6,367 million. Total sales outside Mexico declined 8% to Ps. 15,388 million, while domestic sales fell 25% to Ps. 18,270 million.
Key financial metrics include:
- Gross profit margin: 23% (down from 24% in 2023)
- Operating income: Ps. 5,301 million (30% decrease)
- Cost of sales: 77% of net sales
- Comprehensive financial income: Ps. 7,240 million (versus expense of Ps. 1,588 million in 2023)
Grupo Simec ha riportato i risultati finanziari certificati per l'anno terminato il 31 dicembre 2024, evidenziando una performance mista. Le vendite nette sono diminuite del 18%, attestandosi a 33.658 milioni di pesos, a causa di una riduzione del 6% nelle spedizioni di acciaio e di un calo del 13% nel prezzo medio di vendita rispetto al 2023.
Nonostante le difficoltà, l'utile netto è cresciuto del 145%, raggiungendo 10.488 milioni di pesos nel 2024. L'EBITDA dell'azienda è diminuito del 26%, scendendo a 6.367 milioni di pesos. Le vendite totali fuori dal Messico sono calate dell'8% a 15.388 milioni di pesos, mentre quelle interne sono diminuite del 25%, arrivando a 18.270 milioni di pesos.
Principali indicatori finanziari:
- Margine di profitto lordo: 23% (in calo rispetto al 24% del 2023)
- Reddito operativo: 5.301 milioni di pesos (diminuito del 30%)
- Costo delle vendite: 77% delle vendite nette
- Reddito finanziario complessivo: 7.240 milioni di pesos (rispetto a una spesa di 1.588 milioni nel 2023)
Grupo Simec presentó sus resultados financieros auditados para el año finalizado el 31 de diciembre de 2024, mostrando un desempeño mixto. Las ventas netas disminuyeron un 18% hasta 33,658 millones de pesos, impulsadas por una reducción del 6% en los envíos de acero y una caída del 13% en el precio promedio de venta en comparación con 2023.
A pesar de los desafíos, la utilidad neta aumentó un 145%, alcanzando 10,488 millones de pesos en 2024. El EBITDA de la compañía disminuyó un 26%, situándose en 6,367 millones de pesos. Las ventas totales fuera de México bajaron un 8% a 15,388 millones de pesos, mientras que las ventas nacionales cayeron un 25% a 18,270 millones de pesos.
Métricas financieras clave:
- Margen de utilidad bruta: 23% (frente al 24% en 2023)
- Ingreso operativo: 5,301 millones de pesos (disminución del 30%)
- Costo de ventas: 77% de las ventas netas
- Ingreso financiero integral: 7,240 millones de pesos (en comparación con un gasto de 1,588 millones en 2023)
Grupo Simec는 2024년 12월 31일 종료된 회계연도에 대한 감사된 재무 결과를 발표했으며, 성과는 혼재되어 있습니다. 순매출은 18% 감소하여 336억 5,800만 페소를 기록했으며, 이는 철강 출하량이 6% 감소하고 2023년 대비 평균 판매 가격이 13% 하락한 데 기인합니다.
어려움에도 불구하고 순이익은 145% 급증하여 104억 8,800만 페소를 기록했습니다. 회사의 EBITDA는 26% 감소하여 63억 6,700만 페소에 머물렀습니다. 멕시코 외부 총 매출은 8% 감소하여 153억 8,800만 페소였으며, 국내 매출은 25% 감소하여 182억 7,000만 페소를 기록했습니다.
주요 재무 지표:
- 매출총이익률: 23% (2023년 24%에서 하락)
- 영업이익: 53억 100만 페소 (30% 감소)
- 매출원가: 순매출의 77%
- 포괄재무수익: 72억 4,000만 페소 (2023년 15억 8,800만 페소 비용 대비)
Grupo Simec a publié ses résultats financiers audités pour l'exercice clos le 31 décembre 2024, affichant une performance mitigée. Les ventes nettes ont diminué de 18 % pour atteindre 33 658 millions de pesos, en raison d'une baisse de 6 % des expéditions d'acier et d'une réduction de 13 % du prix de vente moyen par rapport à 2023.
Malgré les défis, le bénéfice net a augmenté de 145 % pour atteindre 10 488 millions de pesos en 2024. L'EBITDA de la société a diminué de 26 % pour s'établir à 6 367 millions de pesos. Les ventes totales hors Mexique ont diminué de 8 % pour atteindre 15 388 millions de pesos, tandis que les ventes nationales ont chuté de 25 % à 18 270 millions de pesos.
Principaux indicateurs financiers :
- Marge brute : 23 % (en baisse par rapport à 24 % en 2023)
- Résultat d'exploitation : 5 301 millions de pesos (baisse de 30 %)
- Coût des ventes : 77 % des ventes nettes
- Revenu financier global : 7 240 millions de pesos (contre une dépense de 1 588 millions en 2023)
Grupo Simec veröffentlichte seine geprüften Finanzergebnisse für das zum 31. Dezember 2024 endende Jahr und zeigte eine gemischte Leistung. Der Nettoumsatz sank um 18 % auf 33.658 Millionen Pesos, bedingt durch eine 6%ige Reduzierung der Stahllieferungen und einen 13% niedrigeren durchschnittlichen Verkaufspreis im Vergleich zu 2023.
Trotz Herausforderungen stieg der Nettogewinn um 145 % auf 10.488 Millionen Pesos im Jahr 2024. Das EBITDA des Unternehmens sank um 26 % auf 6.367 Millionen Pesos. Die Gesamtauslandsverkäufe gingen um 8 % auf 15.388 Millionen Pesos zurück, während die Inlandsverkäufe um 25 % auf 18.270 Millionen Pesos fielen.
Wichtige Finanzkennzahlen umfassen:
- Bruttogewinnmarge: 23 % (gegenüber 24 % im Jahr 2023)
- Betriebsergebnis: 5.301 Millionen Pesos (Rückgang um 30 %)
- Herstellungskosten: 77 % des Nettoumsatzes
- Umfassendes Finanzergebnis: 7.240 Millionen Pesos (im Vergleich zu einem Aufwand von 1.588 Millionen im Jahr 2023)
- Net income increased 145% to Ps. 10,488 million in 2024 vs Ps. 4,283 million in 2023
- Significant financial income of Ps. 7,240 million in 2024 vs expense of Ps. 1,588 million in 2023
- Cost of sales per unit decreased 11% due to lower scrap costs
- Strong exchange income of Ps. 5,556 million in 2024 vs loss of Ps. 2,431 million in 2023
- Q4 2024 average sales prices increased 4% compared to Q4 2023
- Net sales decreased 18% to Ps. 33,658 million in 2024
- Shipments of finished steel products declined 6% to 2.056 million tons
- Gross profit decreased from Ps. 10,039 million to Ps. 7,625 million
- Operating income fell 30% to Ps. 5,301 million in 2024
- EBITDA decreased 26% to Ps. 6,367 million in 2024
- Operating expenses increased 12% while sales decreased
- Mexico sales dropped significantly by 25% to Ps. 18,270 million
Insights
Grupo Simec reports 145% net income surge driven by currency gains, masking 18% revenue decline and deteriorating operational metrics.
Grupo Simec's 2024 financial results present a stark contrast between bottom-line growth and operational weakness. Net income surged
The exceptional profit growth stems primarily from non-operational factors - specifically a
Core business metrics tell a different story:
- Net sales fell
18% toPs. 33,658 million - Shipments decreased
6% to 2.056 million tons - Operating income declined
30% toPs. 5,301 million - EBITDA dropped
26% toPs. 6,367 million - Gross margin contracted from
24% to23%
SG&A expenses increased
Q4 2024 shows accelerating margin pressure with gross profit falling
The balance sheet remains strong with minimal debt (
Steel shipments down 6% with 13% price drops amid severe Mexican market weakness, while costs rise despite lower volumes.
Grupo Simec's operational metrics reveal significant market challenges in the steel sector. The
A notable geographic divergence emerged in 2024, with Mexican sales plummeting
The cost structure shows concerning trends. While cost of sales decreased
Q4 2024 performance highlights these operational challenges:
- Average sales prices rose
4% year-over-year - But cost per ton increased
12% - Resulting in gross margin compression from
22% to16%
The
Twelve-Month Period Ended December 31, 2024 compared to Twelve-Month Period Ended December 31, 2023.
Net Sales
Net sales decreased
Cost of Sales
Cost of sales decreased
Gross Profit
Gross profit of the Company in the twelve-month period ended December 31, 2024 was of Ps. 7,625 million compared to Ps. 10,039 million in the same period of 2023. Gross profit as a percentage of net sales represented
Operating Expenses
Selling, general and administrative expenses increased
Other Expenses (Income) net
The company recorded other net expenses of Ps. 119 million in the twelve-month period ended December 31, 2023 compared to other net income of Ps. 279 million in the same period of 2024.
Operating Income
Operating income decreased
EBITDA
The EBITDA of the Company decreased
Consolidated | |||||||
Million | Twelve-month period ended December 31, | ||||||
2024 | 2023 | ||||||
Net income (loss) Controlling interest | 10,488 | 4,283 | |||||
Loss attributable to noncontrolling interests | (7) | (8) | |||||
Net income (loss) | 10,481 | 4,275 | |||||
Depreciation and amortization | 1,066 | 1,035 | |||||
Income taxes | 2,060 | 1,740 | |||||
Financial results (income) loss | (7,240) | 1,588 | |||||
EBITDA | 6,367 | 8,638 | |||||
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 | |||||
Adjusted EBITDA | 6,367 | 8,638 | |||||
Comprehensive Financial Cost
Comprehensive financial cost in the twelve-month period ended December 31, 2024 represented a net income of Ps. 7,240 million compared with a net expense of Ps. 1,588 million in the same period of 2023. The net interest was an income of Ps. 1,616 million in 2024 compared with a net income of Ps. 778 million in the twelve-month period ended December 31, 2023. We registered a net exchange income of Ps. 5,556 million in the twelve-month period ended December 31, 2024 compared with a net exchange loss of Ps. 2,431 million in the same period of 2023, net other financial income was recorded for Ps. 68 million for the period 2024 compared to the Ps. 65 million of other financial income for the period 2023.
Income Taxes
The Company recorded an expense net tax of Ps. 2,060 million in the twelve-month period ended December 31, 2024 (including the income of deferred tax of Ps. 293 million) compared with a net expense tax of Ps. 1,740 million in the same period of 2023 (including the tax deferred expense of Ps. 45 million).
Net Income (loss)
As a result of the foregoing, net income increased by
Liquidity and Capital Resources
As of December 31, 2024, Simec's total consolidated debt consisted of
Comparative fourth quarter 2024 vs third quarter 2024
Net Sales
Net sales increased from Ps. 8,549 million in the third quarter of 2024 to Ps. 8,830 million for the fourth quarter of 2024. Sales in tons remained stable from 521 thousand ton in the third quarter of 2024 to 520 thousand ton in the fourth quarter of the same period. Total sales outside of
Cost of Sales
Cost of sales increased to Ps. 7,408 million in the fourth quarter of 2024 compared to Ps. 6,393 million for the third quarter of 2024. With respect to sales, in the fourth quarter of 2024, the cost of sales represented
Gross Profit
Gross profit of the Company for the fourth quarter of 2024 decreased
Operating Expenses
Selling, general and administrative expenses increased
Other Expenses (Income) net
The company recorded other net income of Ps. 207 million in the fourth quarter of 2024 compared to other net income of Ps. 26 million for the third quarter of 2024.
Operating (Loss) Income
Operating income was of Ps. 861 million in the fourth quarter of 2024 compared to an operating income of Ps. 1,524 million in the third quarter of 2024. The operating income as a percentage of net sales represented
EBITDA
The EBITDA was Ps. 1,776 million in the third quarter of 2024 (result a net income of Ps. 3,152 million, less minority stake of Ps. 1 million, plus income taxes of Ps. 471 million, less comprehensive financial income of Ps. 2,098 million, plus depreciation of Ps. 252 million), compared to Ps. 1,178 million for the fourth quarter of 2024, (result of net income of Ps. 1,901 million, less minority stake of Ps. 5 million, plus income taxes of Ps. 1,298 million, less comprehensive financial income of Ps. 2,333 million, plus depreciation of Ps. 317 million).
Consolidated | |||||||
Million | Comparative fourth quarter vs third quarter 2024 | ||||||
4Q 2024 | 3Q 2024 | ||||||
Net income (loss) Controlling interest | 1,901 | 3,152 | |||||
Loss attributable to noncontrolling interests | (5) | (1) | |||||
Net income (loss) | 1,896 | 3,151 | |||||
Depreciation and Amortization | 317 | 252 | |||||
Income taxes | 1,298 | 471 | |||||
Financial results (income) loss | (2,333) | (2,098) | |||||
EBITDA | 1,178 | 1,776 | |||||
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 | |||||
Adjusted EBITDA | 1,178 | 1,776 | |||||
Comprehensive Financial Income (Cost)
Comprehensive financial income for the fourth quarter for 2024 was a net income of Ps. 2,333 million compared with a net income of Ps. 2,098 million for the third quarter of 2024. The net interest income the fourth quarter was Ps. 550 million compared with a net income of Ps. 329 million in the third quarter of 2024. At same time we registered an exchange net profit of Ps. 1,769 million in the third quarter of 2024 compared with an exchange net income of Ps. 1,757 million in the fourth quarter of 2024. Net other financial income was recorded for Ps. 26 million in the fourth quarter of 2024.
Income Taxes
Income Taxes for the third quarter of 2024 had an expense net tax of Ps. 471 million (including an expense tax deferred for Ps. 33 million) compared to an expense of Ps. 1,298 million for the fourth quarter of 2024, (including an income tax deferred of Ps. 205 million).
Net Income (loss)
As a result of the foregoing, the Company recorded a net income of Ps. 1,901 million in the fourth quarter of 2024 compared to Ps. 3,152 million of net income in the third quarter of 2024.
Comparative fourth quarter 2024 vs fourth quarter 2023
Net Sales
Net sales increased
Cost of Sales
Cost of sales increased
Gross Profit
Gross profit for the fourth quarter of 2024 decreased
Operating Expenses
Selling, general and administrative expenses increased
Other Expenses (Income) net
The company recorded other expenses net of Ps. 286 million in the fourth quarter of 2023 compared with other income net of Ps. 207 million for the fourth quarter of 2024.
Operating (Loss) Income
Operating income was of Ps. 861 million in the fourth quarter of 2024 compared to an operating profit of Ps. 927 million in the fourth quarter of 2023. The operating income as a percentage of net sales in the fourth quarter of 2024 was
EBITDA
The EBITDA was Ps. 1,140 million in the fourth quarter of 2023 (result of net income of Ps. 462 million, less minority stake of Ps. 4 million, plus income taxes of Ps. 199 million, plus comprehensive financial cost of Ps. 270 million, plus depreciation of Ps. 213 million), compared to EBITDA of Ps 1,178 million in the fourth quarter of 2024 (result of net income of Ps. 1,901 million, less minority stake of Ps. 5 million, plus income taxes of Ps. 1,298 million, less comprehensive financial income of Ps. 2,333 million, plus depreciation of Ps. 317 million).
Consolidated | |||||||
Million | Comparative fourth quarter vs fourth quarter | ||||||
2024 | 2023 | ||||||
Net income (loss) controlling interest | 1,901 | 462 | |||||
Loss attributable to noncontrolling interests | (5) | (4) | |||||
Net income (loss) | 1,896 | 458 | |||||
Depreciation and Amortization | 317 | 213 | |||||
Income taxes | 1,298 | 199 | |||||
Financial results (income) loss | (2,333) | 270 | |||||
EBITDA | 1,178 | 1,140 | |||||
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 | |||||
Adjusted EBITDA | 1,178 | 1,140 | |||||
Comprehensive Financial Income (Cost)
Comprehensive financial cost for the fourth quarter of 2024 was a net income of Ps. 2,333 million compared with a net expense of Ps 270 million in the fourth quarter of 2023. Net interest income was of Ps. 550 million in the fourth quarter of 2024 compared with a net interest income of Ps. 386 million in the fourth quarter of 2023. At same time we registered a net exchange income of Ps. 1,757 million in the fourth quarter of 2024 compared with an exchange loss of Ps. 677 million in the fourth quarter of 2023. Net other financial income was recorded for Ps. 26 million in the fourth quarter of 2024, compared to the Ps. 21 million of other financial income for the period 2023.
Income Taxes
The Company recorded a net taxes expense for the fourth quarter of 2024 of Ps. 1,298 million (including an income of deferred tax of Ps. 205 million), compared to a net tax expense of Ps. 199 million for the fourth quarter of 2023, (including a tax deferred expense of Ps. 53 million).
Net Income (loss)
As a result of the foregoing, the Company recorded a net profit of Ps. 1,901 million in the fourth quarter of 2024 compared to Ps. 462 million of net profit in the fourth quarter of 2023.
(million of pesos) | Jan - Dec '24 | Jan - Dec '23 | Year 24 vs | ||
Sales | 33,658 | 41,139 | (18 %) | ||
Cost of Sales | 26,033 | 31,100 | (16 %) | ||
Gross Profit | 7,625 | 10,039 | (24 %) | ||
Selling, General and Administrative Expense | 2,603 | 2,317 | 12 % | ||
Other Income (Expenses), net | 279 | (119) | N/C | ||
Operating Profit | 5,301 | 7,603 | (30 %) | ||
EBITDA | 6,367 | 8,638 | (26 %) | ||
Net income Controlling interest | 10,488 | 4,283 | 145 % | ||
Sales Outside Mexico | 15,388 | 16,814 | (8 %) | ||
Sales in | 18,270 | 24,325 | (25 %) | ||
Total Sales (Tons Thousands) | 2,056 | 2,176 | (6 %) | ||
Cost per ton (Pesos) | 12,662 | 14,292 | (11 %) |
Quarter | |||||
(million of pesos) | 4Q'24 | 3Q '24 | 4Q '23 | 4Q´24vs | 4Q´24 vs |
Sales | 8,830 | 8,549 | 8,738 | 3 % | 1 % |
Cost of Sales | 7,408 | 6,393 | 6,795 | 16 % | 9 % |
Gross Profit | 1,422 | 2,156 | 1,943 | (34 %) | (27 %) |
Selling, General and Adm. Expenses | 768 | 658 | 730 | 17 % | 5 % |
Other Income (Expenses), net | 207 | 26 | (286) | 696 % | N/C |
Operating Profit | 861 | 1,524 | 927 | (44 %) | (7 %) |
EBITDA | 1,178 | 1,776 | 1,140 | (34 %) | 3 % |
Net Income Controlling interest | 1,901 | 3,152 | 462 | (40 %) | 311 % |
Sales Outside Mexico | 4,410 | 3,691 | 3,243 | 19 % | 36 % |
Sales in | 4,420 | 4,858 | 5,495 | (9 %) | (20 %) |
Total Sales (Tons Thousands) | 520 | 521 | 536 | 0 % | (3 %) |
Cost per Ton (pesos) | 14,246 | 12,271 | 12,677 | 16 % | 12 % |
Product | Thousands of Tons Jan-Dec 2024 | Millions of Pesos Jan-Dec 2024 | Average Price per Ton Jan-Dec 2024 | Thousands of Tons Jan – Dec 2023 | Millions of Pesos Jan- Dec 2023 | Average Price per Ton Jan-Dec 2023 |
Special Bar Quality SBQ | 520 | 10,133 | 19,487 | 597 | 13,139 | 22,008 |
Commercial Long Steel | 1,536 | 23,525 | 15,316 | 1,579 | 28,000 | 17,733 |
Total Tons | 2,056 | 33,658 | 16,371 | 2,176 | 41,139 | 18,906 |
Product | Thousands of Tons Oct-Dec 2024 | Millions of Pesos Oct-Dec 2024 | Average Price per Ton Oct-Dec 2024 | Thousands of Tons Jul-Sep 2024 | Millions of Pesos Jul-Sep 2024 | Average Price per Ton Jul-Sep 2024 | Thousands of Tons Oct-Dec 2023 | Millions of Pesos Oct-Dec 2023 | Average Price per Ton Oct-Dec 2023 |
Special Bar Quality SBQ | 117 | 2,480 | 21,197 | 153 | 2,939 | 19,209 | 153 | 2,800 | 18,301 |
Commercial Long Steel | 403 | 6,350 | 15,757 | 368 | 5,610 | 15,245 | 383 | 5,938 | 15,504 |
Total Tons | 520 | 8,830 | 16,981 | 521 | 8,549 | 16,409 | 536 | 8,738 | 16,302 |
Any forward-looking information contained herein is inherently subject to various risks, uncertainties and assumptions which, if incorrect, may cause actual results to vary materially from those anticipated, expected or estimated. The company assumes no obligation to update any forward-looking information contained herein.
PRESS RELEASE | Contact: José Luis Tinajero |
Mario Moreno Cortez | |
Grupo Simec, S.A.B. de C.V. | |
Calzada Lázaro Cárdenas 601 | |
44440 Guadalajara, Jalisco, México | |
52 55 1165 1025 | |
52 33 3770 6734 |
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SOURCE Grupo Simec, S.A.B. de C.V.
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