SIM

Financial Performance Overview: Grupo Simec reported an 18% decrease in net sales for the twelve-month period ending December 31, 2024, compared to the previous year, with a significant drop in both shipments and average sales prices of finished steel products. However, net income surged by 168%, reaching Ps. 11,475 million due to improved financial results.

Quarterly Comparison: In the fourth quarter of 2024, net sales increased slightly by 1% from the same quarter in 2023, while operating income rose significantly by 50%. The company also recorded a notable improvement in gross profit and reduced selling expenses, despite a slight decline in overall sales volume.

Financial Performance Overview: Grupo Simec reported a 23% decrease in net sales for the first nine months of 2024 compared to the same period in 2023, with net income increasing by 125% due to lower costs and improved financial results.

Quarterly Comparison: In the third quarter of 2024, net sales decreased by 10% year-over-year, while operating income fell by 16%, despite a slight increase in gross profit and EBITDA compared to the previous quarter.

Financial Performance Overview: Grupo Simec reported a significant decrease in net sales by 29% for the first half of 2024 compared to the same period in 2023, with net income increasing by 169% due to lower costs and improved financial results.

Quarterly Comparison: In the second quarter of 2024, net sales increased by 6% from the first quarter, while net income surged by 303% compared to the second quarter of 2023, despite a 17% decline in sales year-over-year.

Gatos Silver First-Quarter Results: Gatos Silver reported revenue of $72.2 million, net income of $10.2 million, EBITDA of $35.1 million, and free cash flow of $25.5 million. Silver equivalent production remained consistent at 3.70 million ounces.

Hycroft Mining Q1 Performance: Hycroft Mining highlighted a strong performance with a new high-grade silver discovery, no lost time accidents, $57 million in cash, and ongoing exploration drilling on high-grade silver trends.

ZK International Financing: ZK International closed a $5 million financing round, including a $1.5 million investment from CF Opportunity Fund at a 165% premium, to be used for working capital and general corporate purposes.

Grupo Simec Sales Report: Grupo Simec reported a 24% decrease in net sales, driven by lower shipments and prices. Sales outside Mexico fell by 31%, while domestic sales decreased by 18%. Operating income and EBITDA also saw declines.

Additional News: Zimbabwe places sole nickel mine under administration amidst market downturn, and Mulino triumphs in Panama's presidential race with promises of more public works and money in pockets.