GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE TWELVE-MONTH PERIOD ENDED DECEMBER 31, 2024 AUDITED.
Financial Performance Overview: Grupo Simec reported an 18% decrease in net sales for the twelve-month period ending December 31, 2024, with a significant drop in both shipments and average sales prices of finished steel products. However, net income increased by 145% compared to the previous year, reaching Ps. 10,488 million.
Quarterly Comparison: In the fourth quarter of 2024, net sales rose slightly by 1% from the same quarter in 2023, while gross profit decreased by 27%. The company experienced a decline in operating income and EBITDA compared to the third quarter of 2024, but still showed substantial growth in net income compared to the fourth quarter of 2023.
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Grupo Simec Reports 2025 Operational Results
- Sales Decline: Grupo Simec reported net sales of Ps. 30.291 billion for 2025, a 10% decrease compared to the previous year, primarily due to a 6% drop in finished steel shipments and a 4% reduction in average sales prices, which negatively impacts market share and profitability.
- Cost Control Improvement: The cost of sales decreased from Ps. 26.033 billion in 2024 to Ps. 22.657 billion in 2025, a 13% reduction, with the cost of sales as a percentage of net sales improving, indicating effective cost management by the company.
- Slight Gross Profit Increase: Gross profit for 2025 was Ps. 7.634 billion, a marginal increase of 0.12% from 2024, with gross margin rising from 23% to 25%, reflecting the company's efforts to maintain profitability amidst challenging conditions.
- Significant Net Income Drop: The net income for 2025 was Ps. 1.533 billion, an 85% decline year-over-year, primarily due to a shift from foreign exchange gains in 2024 to losses in 2025, which could significantly affect investor confidence and stock price.
Grupo Simec Reports 2025 Operational Results
- Sales Decline: Grupo Simec reported net sales of Ps. 30.29 billion for 2025, a 10% decrease compared to the previous year, primarily due to a 6% drop in finished steel shipments and a 4% reduction in average sales prices, significantly impacting revenue.
- Cost Control Improvement: The cost of sales decreased by 13% from Ps. 26.03 billion to Ps. 22.66 billion, with the cost of sales as a percentage of net sales improving from 77% to 75%, indicating effective cost management by the company.
- Slight Gross Profit Increase: Gross profit for 2025 was Ps. 7.63 billion, a marginal increase of Ps. 0.12 billion from 2024, with gross margin improving from 23% to 25%, reflecting a balance in pricing and cost control strategies.
- Significant Net Profit Drop: The company recorded a net income of Ps. 1.53 billion in 2025, an 85% decline year-over-year, primarily due to a shift from foreign exchange gains in 2024 to losses in 2025, highlighting the substantial impact of external economic conditions on profitability.
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.
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST SIX MONTHS OF 2025
Financial Performance Overview: Grupo Simec reported a 9% decrease in net sales for the first half of 2025 compared to the same period in 2024, with net income plummeting by 94% from Ps. 5,435 million to Ps. 304 million due to reduced shipments of finished steel products and increased costs.
Quarterly Comparison: In the second quarter of 2025, the company experienced a net loss of Ps. 1,000 million, contrasting sharply with a profit of Ps. 3,979 million in the same quarter of 2024, driven by lower sales volumes and higher comprehensive financial costs.
GRUPO SIMEC SAB DE CV ANNOUNCES THE PRESENTATION OF DOCUMENT 20F TO THE SEC
Annual Report Filing: Grupo Simec filed its Annual Report on Form 20-F for the year ended December 31, 2024, with the U.S. Securities and Exchange Commission, which is accessible on their website and available in hard copy upon request.
Company Overview: Grupo Simec is a diversified manufacturer of SBQ and structural steel products, operating primarily in Mexico and Brazil, with a focus on producing components for automotive and industrial applications.
Grupo Simec Reports 2025 Operational Results
- Sales Decline: Grupo Simec reported net sales of Ps. 30.291 billion for 2025, a 10% decrease compared to the previous year, primarily due to a 6% drop in finished steel shipments and a 4% reduction in average sales prices, which negatively impacts market share and profitability.
- Cost Control Improvement: The cost of sales decreased from Ps. 26.033 billion in 2024 to Ps. 22.657 billion in 2025, a 13% reduction, with the cost of sales as a percentage of net sales improving, indicating effective cost management by the company.
- Slight Gross Profit Increase: Gross profit for 2025 was Ps. 7.634 billion, a marginal increase of 0.12% from 2024, with gross margin rising from 23% to 25%, reflecting the company's efforts to maintain profitability amidst challenging conditions.
- Significant Net Income Drop: The net income for 2025 was Ps. 1.533 billion, an 85% decline year-over-year, primarily due to a shift from foreign exchange gains in 2024 to losses in 2025, which could significantly affect investor confidence and stock price.
Grupo Simec Reports 2025 Operational Results
- Sales Decline: Grupo Simec reported net sales of Ps. 30.29 billion for 2025, a 10% decrease compared to the previous year, primarily due to a 6% drop in finished steel shipments and a 4% reduction in average sales prices, significantly impacting revenue.
- Cost Control Improvement: The cost of sales decreased by 13% from Ps. 26.03 billion to Ps. 22.66 billion, with the cost of sales as a percentage of net sales improving from 77% to 75%, indicating effective cost management by the company.
- Slight Gross Profit Increase: Gross profit for 2025 was Ps. 7.63 billion, a marginal increase of Ps. 0.12 billion from 2024, with gross margin improving from 23% to 25%, reflecting a balance in pricing and cost control strategies.
- Significant Net Profit Drop: The company recorded a net income of Ps. 1.53 billion in 2025, an 85% decline year-over-year, primarily due to a shift from foreign exchange gains in 2024 to losses in 2025, highlighting the substantial impact of external economic conditions on profitability.
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.
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST SIX MONTHS OF 2025
Financial Performance Overview: Grupo Simec reported a 9% decrease in net sales for the first half of 2025 compared to the same period in 2024, with net income plummeting by 94% from Ps. 5,435 million to Ps. 304 million due to reduced shipments of finished steel products and increased costs.
Quarterly Comparison: In the second quarter of 2025, the company experienced a net loss of Ps. 1,000 million, contrasting sharply with a profit of Ps. 3,979 million in the same quarter of 2024, driven by lower sales volumes and higher comprehensive financial costs.
GRUPO SIMEC SAB DE CV ANNOUNCES THE PRESENTATION OF DOCUMENT 20F TO THE SEC
Annual Report Filing: Grupo Simec filed its Annual Report on Form 20-F for the year ended December 31, 2024, with the U.S. Securities and Exchange Commission, which is accessible on their website and available in hard copy upon request.
Company Overview: Grupo Simec is a diversified manufacturer of SBQ and structural steel products, operating primarily in Mexico and Brazil, with a focus on producing components for automotive and industrial applications.
