GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST QUARTER, OF 2025, ENDED MARCH 31, 2025
Financial Performance Overview: Grupo Simec reported a decrease in net sales from Ps. 7,885 million in Q1 2024 to Ps. 7,783 million in Q1 2025, attributed to lower sales prices and shipment volumes, while gross profit slightly decreased to Ps. 1,997 million despite a reduction in cost of sales.
Comparative Analysis: Compared to the previous quarter (Q4 2024), net sales fell by 12%, but gross profit increased significantly by 40% due to lower input costs, leading to an operating income rise of 66% to Ps. 1,426 million in Q1 2025.
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GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST NINE MONTHS OF 2025
Financial Performance Overview: Grupo Simec reported a 10% decrease in net sales for the first nine months of 2025, totaling Ps. 22,320 million, primarily due to a 9% drop in finished steel shipments and a 1% decline in average sales prices compared to the same period in 2024.
Profitability Decline: The company's gross profit fell by 13% to Ps. 5,427 million, with a significant 91% decrease in net income, down to Ps. 763 million, largely attributed to a shift from net exchange income in 2024 to a net exchange loss in 2025.
Quarterly Performance Comparison: In the third quarter of 2025, net sales increased by 6% from the previous quarter, reaching Ps. 7,485 million, while gross profit rose by 5%. However, compared to the same quarter in 2024, net sales decreased by 12%.
Cost Management: Despite a decrease in sales, the cost of sales also declined by 9% in the first nine months of 2025, indicating improved cost management, although selling, general, and administrative expenses increased by 11% during the same period.
Grupo Simec SAB Reveals Update to Its Annual Report on Form 20-F for the Year Ended December 31, 2024
Amendment Filing: Grupo Simec filed an amendment to its Annual Report on Form 20-F for the year ended December 31, 2024, with the SEC, including revised disclosures on controls and procedures without altering the audited financial statements.
Company Overview: Grupo Simec is a diversified manufacturer and distributor of SBQ and structural steel products, operating in the U.S., Mexico, and Brazil, with applications in automotive and construction sectors.
