3Q2020 | 2Q2020 | 3Q2019 | ||||||||||||||||||||||||
Steel Shipments (tons) | 2,845,000 | 2,449,000 | 16 | % | 3,057,000 | -7 | % | |||||||||||||||||||
Iron Ore Shipments (tons) | 869,000 | 991,000 | -12 | % | 904,000 | -4 | % | |||||||||||||||||||
Net Sales ($ million) | 2,138.6 | 1,745.8 | 23 | % | 2,449.7 | -13 | % | |||||||||||||||||||
Operating Income ($ million) | 201.0 | 65.6 | 207 | % | 228.6 | -12 | % | |||||||||||||||||||
EBITDA1 ($ million) | 353.4 | 223.9 | 58 | % | 388.0 | -9 | % | |||||||||||||||||||
EBITDA Margin (% of net sales) | 17 | % | 13 | % | 16 | % | ||||||||||||||||||||
EBITDA per Ton2 ($) | 124.2 | 91.4 | 126.9 | |||||||||||||||||||||||
Financial Result, Net ($ million) | (13.7) | (14.6) | (34.9) | |||||||||||||||||||||||
Income Tax Result ($ million) | (27.5) | 12.3 | (83.6) | |||||||||||||||||||||||
Net Result ($ million) | 173.0 | 43.6 | 111.9 | |||||||||||||||||||||||
Equity Holders' Net Result ($ million) | 145.6 | 44.0 | 95.3 | |||||||||||||||||||||||
Earnings per ADS3 ($) | 0.74 | 0.22 | 0.49 |
9M2020 | 9M2019 | ||||||||||||||||
Steel Shipments (tons) | 8,292,000 | 9,594,000 | -14 | % | |||||||||||||
Iron Ore Shipments (tons) | 2,854,000 | 2,659,000 | 7 | % | |||||||||||||
Net Sales ($ million) | 6,155.8 | 7,942.8 | -22 | % | |||||||||||||
Operating Income ($ million) | 402.3 | 772.3 | -48 | % | |||||||||||||
EBITDA6 ($ million) | 879.3 | 1,262.6 | -30 | % | |||||||||||||
EBITDA Margin (% of net sales) | 14 | % | 16 | % | |||||||||||||
EBITDA per Ton ($) | 106.0 | 131.6 | |||||||||||||||
Financial Result, Net ($ million) | 77.8 | (68.9) | |||||||||||||||
Income Tax Result ($ million) | (282.5) | (200.4) | |||||||||||||||
Net Result ($ million) | 197.2 | 540.1 | |||||||||||||||
Equity Holders' Net Result ($ million) | 178.1 | 493.8 | |||||||||||||||
Earnings per ADS ($) | 0.91 | 2.52 |
Net Sales (million $) | Shipments (thousand tons) | Revenue/ton ($/ton) | ||||||||||||||||||||||||||||||||||||
3Q2020 | 3Q2019 | Dif. | 3Q2020 | 3Q2019 | Dif. | 3Q2020 | 3Q2019 | Dif. | ||||||||||||||||||||||||||||||
Mexico | 1,065.7 | 1,334.9 | -20 | % | 1,445 | 1,629 | -11 | % | 737 | 820 | -10 | % | ||||||||||||||||||||||||||
Southern Region | 495.6 | 435.9 | 14 | % | 547 | 504 | 9 | % | 906 | 865 | 5 | % | ||||||||||||||||||||||||||
Other Markets | 508.0 | 595.1 | -15 | % | 853 | 924 | -8 | % | 596 | 644 | -7 | % | ||||||||||||||||||||||||||
Total steel products | 2,069.4 | 2,365.8 | -13 | % | 2,845 | 3,057 | -7 | % | 727 | 774 | -6 | % | ||||||||||||||||||||||||||
Other products* | 45.6 | 83.9 | -46 | % | ||||||||||||||||||||||||||||||||||
Steel segment | 2,114.9 | 2,449.7 | -14 | % | ||||||||||||||||||||||||||||||||||
Mining segment | 91.3 | 111.7 | -18 | % | 869 | 904 | -4 | % | 105 | 124 | -15 | % | ||||||||||||||||||||||||||
Intersegment eliminations | (67.6) | (111.7) | ||||||||||||||||||||||||||||||||||||
Net sales | 2,138.6 | 2,449.7 | -13 | % | ||||||||||||||||||||||||||||||||||
* The item "Other products" primarily includes Ternium Brasil’s and Ternium México’s electricity sales. |
Steel segment | Mining segment | Intersegment eliminations | Total | |||||||||||||||||||||||||||||||||||
$ million | 3Q2020 | 3Q2019 | 3Q2020 | 3Q2019 | 3Q2020 | 3Q2019 | 3Q2020 | 3Q2019 | ||||||||||||||||||||||||||||||
Net Sales | 2,114.9 | 2,449.7 | 91.3 | 111.7 | (67.6) | (111.7) | 2,138.6 | 2,449.7 | ||||||||||||||||||||||||||||||
Cost of sales | (1,762.2) | (2,065.1) | (60.2) | (61.6) | 65.9 | 110.3 | (1,756.6) | (2,016.4) | ||||||||||||||||||||||||||||||
SG&A expenses | (175.4) | (208.2) | (7.7) | (3.7) | — | — | (183.1) | (211.9) | ||||||||||||||||||||||||||||||
Other operating income, net | 1.8 | 6.9 | 0.2 | 0.3 | — | — | 2.0 | 7.2 | ||||||||||||||||||||||||||||||
Operating income | 179.2 | 183.3 | 23.5 | 46.7 | (1.7) | (1.4) | 201.0 | 228.6 | ||||||||||||||||||||||||||||||
EBITDA | 318.7 | 330.7 | 36.4 | 58.7 | (1.7) | (1.4) | 353.4 | 388.0 |
Net Sales (million $) | Shipments (thousand tons) | Revenue/ton ($/ton) | ||||||||||||||||||||||||||||||||||||
9M2020 | 9M2019 | Dif. | 9M2020 | 9M2019 | Dif. | 9M2020 | 9M2019 | Dif. | ||||||||||||||||||||||||||||||
Mexico | 3,186.1 | 4,129.4 | -23 | % | 4,269 | 4,761 | -10 | % | 746 | 867 | -14 | % | ||||||||||||||||||||||||||
Southern Region | 1,129.2 | 1,252.6 | -10 | % | 1,270 | 1,454 | -13 | % | 889 | 862 | 3 | % | ||||||||||||||||||||||||||
Other Markets | 1,654.7 | 2,316.5 | -29 | % | 2,753 | 3,379 | -19 | % | 601 | 686 | -12 | % | ||||||||||||||||||||||||||
Total steel products | 5,970.0 | 7,698.6 | -22 | % | 8,292 | 9,594 | -14 | % | 720 | 802 | -10 | % | ||||||||||||||||||||||||||
Other products* | 132.3 | 244.2 | -46 | % | ||||||||||||||||||||||||||||||||||
Steel segment | 6,102.3 | 7,942.8 | -23 | % | ||||||||||||||||||||||||||||||||||
Mining segment | 284.8 | 264.3 | 8 | % | 2,854 | 2,659 | 7 | % | 100 | 99 | 0 | % | ||||||||||||||||||||||||||
Intersegment eliminations | (231.3) | (264.3) | ||||||||||||||||||||||||||||||||||||
Net sales | 6,155.8 | 7,942.8 | -22 | % | ||||||||||||||||||||||||||||||||||
* The item "Other products" primarily includes Ternium Brasil’s and Ternium México’s electricity sales. |
Steel segment | Mining segment | Intersegment eliminations | Total | |||||||||||||||||||||||||||||||||||
$ million | 9M2020 | 9M2019 | 9M2020 | 9M2019 | 9M2020 | 9M2019 | 9M2020 | 9M2019 | ||||||||||||||||||||||||||||||
Net Sales | 6,102.3 | 7,942.8 | 284.8 | 264.3 | (231.3) | (264.3) | 6,155.8 | 7,942.8 | ||||||||||||||||||||||||||||||
Cost of sales | (5,223.3) | (6,587.0) | (195.0) | (186.2) | 232.5 | 264.1 | (5,185.8) | (6,509.1) | ||||||||||||||||||||||||||||||
SG&A expenses | (547.8) | (663.2) | (18.4) | (11.4) | — | — | (566.1) | (674.5) | ||||||||||||||||||||||||||||||
Other operating (loss) income, net | (0.9) | 13.6 | (0.6) | (0.4) | — | — | (1.5) | 13.2 | ||||||||||||||||||||||||||||||
Operating income | 330.2 | 706.2 | 70.8 | 66.3 | 1.2 | (0.2) | 402.3 | 772.3 | ||||||||||||||||||||||||||||||
EBITDA | 771.2 | 1,161.1 | 106.9 | 101.7 | 1.2 | (0.2) | 879.3 | 1,262.6 |
$ million | 3Q2020 | 3Q2019 | 9M2020 | 9M2019 | ||||||||||||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||||||||||||
Net sales | 2,138.6 | 2,449.7 | 6,155.8 | 7,942.8 | ||||||||||||||||||||||
Cost of sales | (1,756.6) | (2,016.4) | (5,185.8) | (6,509.1) | ||||||||||||||||||||||
Gross profit | 382.1 | 433.3 | 969.9 | 1,433.7 | ||||||||||||||||||||||
Selling, general and administrative expenses | (183.1) | (211.9) | (566.1) | (674.5) | ||||||||||||||||||||||
Other operating income (expense), net | 2.0 | 7.2 | (1.5) | 13.2 | ||||||||||||||||||||||
Operating income | 201.0 | 228.6 | 402.3 | 772.3 | ||||||||||||||||||||||
Finance expense | (9.0) | (25.6) | (38.9) | (66.8) | ||||||||||||||||||||||
Finance income | 15.9 | 9.0 | 30.9 | 21.4 | ||||||||||||||||||||||
Other financial (expenses) income, net | (20.6) | (18.3) | 85.8 | (23.5) | ||||||||||||||||||||||
Equity in earnings (losses) of non-consolidated companies | 13.2 | 1.9 | (0.4) | 37.1 | ||||||||||||||||||||||
Profit before income tax expense | 200.5 | 195.6 | 479.7 | 740.5 | ||||||||||||||||||||||
Income tax expense | (27.5) | (83.6) | (282.5) | (200.4) | ||||||||||||||||||||||
Profit for the period | 173.0 | 111.9 | 197.2 | 540.1 | ||||||||||||||||||||||
Attributable to: | ||||||||||||||||||||||||||
Owners of the parent | 145.6 | 95.3 | 178.1 | 493.8 | ||||||||||||||||||||||
Non-controlling interest | 27.4 | 16.6 | 19.2 | 46.3 | ||||||||||||||||||||||
Profit for the period | 173.0 | 111.9 | 197.2 | 540.1 |
$ million | September 30, 2020 | December 31, 2019 | ||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||
Property, plant and equipment, net | 6,525.8 | 6,539.6 | ||||||||||||||||||||||||
Intangible assets, net | 908.3 | 943.8 | ||||||||||||||||||||||||
Investments in non-consolidated companies | 393.5 | 513.6 | ||||||||||||||||||||||||
Deferred tax assets | 126.8 | 163.5 | ||||||||||||||||||||||||
Receivables, net | 267.8 | 592.6 | ||||||||||||||||||||||||
Trade receivables, net | 0.1 | 0.9 | ||||||||||||||||||||||||
Other investments | 2.9 | 3.3 | ||||||||||||||||||||||||
Total non-current assets | 8,225.2 | 8,757.3 | ||||||||||||||||||||||||
Receivables, net | 217.0 | 334.7 | ||||||||||||||||||||||||
Derivative financial instruments | 1.5 | 1.2 | ||||||||||||||||||||||||
Inventories, net | 1,667.3 | 2,158.3 | ||||||||||||||||||||||||
Trade receivables, net | 776.3 | 949.7 | ||||||||||||||||||||||||
Other investments | 623.2 | 212.3 | ||||||||||||||||||||||||
Cash and cash equivalents | 680.7 | 520.0 | ||||||||||||||||||||||||
Total current assets | 3,965.9 | 4,176.1 | ||||||||||||||||||||||||
Non-current assets classified as held for sale | 1.9 | 2.1 | ||||||||||||||||||||||||
Total assets | 12,193.0 | 12,935.5 | ||||||||||||||||||||||||
Capital and reserves attributable to the owners of the parent | 6,686.1 | 6,611.7 | ||||||||||||||||||||||||
Non-controlling interest | 1,091.0 | 1,103.2 | ||||||||||||||||||||||||
Total Equity | 7,777.1 | 7,714.9 | ||||||||||||||||||||||||
Provisions | 256.4 | 613.4 | ||||||||||||||||||||||||
Deferred tax liabilities | 469.2 | 403.3 | ||||||||||||||||||||||||
Other liabilities | 447.4 | 507.6 | ||||||||||||||||||||||||
Trade payables | 1.0 | 1.2 | ||||||||||||||||||||||||
Derivative financial instruments | 0.5 | — | ||||||||||||||||||||||||
Lease liabilities | 257.6 | 298.2 | ||||||||||||||||||||||||
Borrowings | 1,457.4 | 1,628.9 | ||||||||||||||||||||||||
Total non-current liabilities | 2,889.6 | 3,452.5 | ||||||||||||||||||||||||
Current income tax liabilities | 36.2 | 47.1 | ||||||||||||||||||||||||
Other liabilities | 215.6 | 240.9 | ||||||||||||||||||||||||
Trade payables | 824.6 | 876.8 | ||||||||||||||||||||||||
Derivative financial instruments | 0.1 | 3.0 | ||||||||||||||||||||||||
Lease liabilities | 41.2 | 40.5 | ||||||||||||||||||||||||
Borrowings | 408.8 | 559.8 | ||||||||||||||||||||||||
Total current liabilities | 1,526.4 | 1,768.1 | ||||||||||||||||||||||||
Total liabilities | 4,416.0 | 5,220.7 | ||||||||||||||||||||||||
Total equity and liabilities | 12,193.0 | 12,935.5 |
$ million | 3Q2020 | 3Q2019 | 9M2020 | 9M2019 | ||||||||||||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||||||||||||
Profit for the period | 173.0 | 111.9 | 197.2 | 540.1 | ||||||||||||||||||||||
Adjustments for: | ||||||||||||||||||||||||||
Depreciation and amortization | 152.4 | 159.4 | 477.1 | 490.3 | ||||||||||||||||||||||
Equity in (earnings) losses of non-consolidated companies | (13.2) | (1.9) | 0.4 | (37.1) | ||||||||||||||||||||||
Changes in provisions | — | 0.4 | (0.3) | (2.3) | ||||||||||||||||||||||
Net foreign exchange results and others | 58.8 | 20.3 | (28.1) | 29.6 | ||||||||||||||||||||||
Interest accruals less payments | 0.8 | (1.5) | 4.6 | 3.0 | ||||||||||||||||||||||
Income tax accruals less payments | (52.4) | 14.8 | 127.4 | (187.6) | ||||||||||||||||||||||
Changes in working capital | 140.6 | 202.7 | 628.1 | 418.7 | ||||||||||||||||||||||
Net cash provided by operating activities | 460.0 | 506.2 | 1,406.4 | 1,254.7 | ||||||||||||||||||||||
Capital expenditures | (71.1) | (255.9) | (439.6) | (744.8) | ||||||||||||||||||||||
Proceeds from the sale of property, plant & equipment | 0.1 | — | 0.4 | 0.5 | ||||||||||||||||||||||
Acquisition of non-controlling interest | (2.8) | (4.2) | (14.1) | (4.2) | ||||||||||||||||||||||
Loans to non-consolidated companies | — | — | — | 24.5 | ||||||||||||||||||||||
Decrease (increase) in other Investments | 84.3 | (184.4) | (410.5) | (166.5) | ||||||||||||||||||||||
Net cash provided by (used in) investing activities | 10.5 | (444.4) | (863.9) | (890.5) | ||||||||||||||||||||||
Dividends paid in cash to company's shareholders | — | — | — | (235.6) | ||||||||||||||||||||||
Dividends paid in cash to non-controlling interest | — | — | — | (28.5) | ||||||||||||||||||||||
Finance Lease Payments | (10.1) | (9.0) | (30.4) | (28.6) | ||||||||||||||||||||||
Proceeds from borrowings | 24.8 | 263.6 | 244.3 | 1,133.0 | ||||||||||||||||||||||
Repayments of borrowings | (239.4) | (448.2) | (558.2) | (802.0) | ||||||||||||||||||||||
Net cash (used in) provided by financing activities | (224.6) | (193.6) | (344.3) | 38.2 | ||||||||||||||||||||||
Increase (decrease) in cash and cash equivalents | 245.8 | (131.9) | 198.2 | 402.4 |
Shipments | ||||||||||||||||||||||||||
Thousand tons | 3Q2020 | 3Q2019 | 2Q2020 | 9M2020 | 9M2019 | |||||||||||||||||||||
Mexico | 1,445 | 1,629 | 1,175 | 4,269 | 4,761 | |||||||||||||||||||||
Southern Region | 547 | 504 | 344 | 1,270 | 1,454 | |||||||||||||||||||||
Other Markets | 853 | 924 | 931 | 2,753 | 3,379 | |||||||||||||||||||||
Total steel segment | 2,845 | 3,057 | 2,449 | 8,292 | 9,594 | |||||||||||||||||||||
Total mining segment | 869 | 904 | 991 | 2,854 | 2,659 | |||||||||||||||||||||
Revenue / ton | ||||||||||||||||||||||||||
$/ton | 3Q2020 | 3Q2019 | 2Q2020 | 9M2020 | 9M2019 | |||||||||||||||||||||
Mexico | 737 | 820 | 725 | 746 | 867 | |||||||||||||||||||||
Southern Region | 906 | 865 | 852 | 889 | 862 | |||||||||||||||||||||
Other Markets | 596 | 644 | 587 | 601 | 686 | |||||||||||||||||||||
Total steel segment | 727 | 774 | 690 | 720 | 802 | |||||||||||||||||||||
Total mining segment | 105 | 124 | 100 | 100 | 99 | |||||||||||||||||||||
Net Sales | ||||||||||||||||||||||||||
$ million | 3Q2020 | 3Q2019 | 2Q2020 | 9M2020 | 9M2019 | |||||||||||||||||||||
Mexico | 1,065.7 | 1,334.9 | 851.5 | 3,186.1 | 4,129.4 | |||||||||||||||||||||
Southern Region | 495.6 | 435.9 | 292.8 | 1,129.2 | 1,252.6 | |||||||||||||||||||||
Other Markets | 508.0 | 595.1 | 546.4 | 1,654.7 | 2,316.5 | |||||||||||||||||||||
Total steel products | 2,069.4 | 2,365.8 | 1,690.7 | 5,970.0 | 7,698.6 | |||||||||||||||||||||
Other products1 | 45.6 | 83.9 | 42.5 | 132.3 | 244.2 | |||||||||||||||||||||
Total steel segment | 2,114.9 | 2,449.7 | 1,733.2 | 6,102.3 | 7,942.8 | |||||||||||||||||||||
Total mining segment | 91.3 | 111.7 | 98.7 | 284.8 | 264.3 | |||||||||||||||||||||
Total steel and mining segments | 2,206.2 | 2,561.4 | 1,831.9 | 6,387.1 | 8,207.1 | |||||||||||||||||||||
Intersegment eliminations | (67.6) | (111.7) | (86.1) | (231.3) | (264.3) | |||||||||||||||||||||
Total net sales | 2,138.6 | 2,449.7 | 1,745.8 | 6,155.8 | 7,942.8 |
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