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Ternium Q4, FY'17 profits jump on stronger sales

Ternium SA's profit attributable to shareholders in the fourth quarter of 2017 jumped to US$180.2 million, or 92 U.S. cents per American Depository Share, from the year-ago net income of US$118.4 million, or 60 cents per ADS.

Each ADS represents 10 shares of Ternium's common stock, according to the Feb. 20 release.

The company's board proposed a dividend of 11 cents per share, or US$1.10 per ADS, compared to the year-ago dividend of 10 cents per share.

Net sales in the three-month period surged 50% year over year to US$2.77 billion, mainly on the back of higher steel shipments. Steel shipments for the company swelled 43% to 3.4 million tons, and iron ore shipments improved 2% to 875,000 tons.

Operating income in the period increased 42% year over year to US$350 million, and EBITDA was up 43% to US$502.3 million, which included a US$42.7 million nonrecurring gain on retroactive price adjustment on Ternium México's electricity sales between December 2016 and October 2017.

For full-year 2017, Ternium posted a profit attributable to shareholders of US$886.2 million, or 4.51 per ADS, up from US$595.6 million, or US$3.03 per ADS, in 2016, as net sales increased 34% to US$9.70 billion.