Grupo Simec (SIM) Q1 2023 earnings summary
Event summary combining transcript, slides, and related documents.
Q1 2023 earnings summary
19 Oct, 2026Executive summary
Q1 2023 net sales fell 15% YoY to Ps. 12,825m as average finished-steel selling price per ton declined 12%; shipments decreased 3% to 604k tons.
QoQ, sales rose 26% and operating income rose 31%, supported by higher shipments and a 12% increase in average selling price per ton.
Financial highlights
Gross profit was Ps. 3,207m, down 17% YoY; operating income was Ps. 2,678m, down 19%, and net income was Ps. 1,033m versus Ps. 2,494m.
EBITDA was Ps. 2,959m, down 18% YoY; adjusted EBITDA was also Ps. 2,959m, with no amounts in the listed reconciliation items.
Basic EPS was Ps. 2.07 versus Ps. 5.01 YoY.
Outlook and guidance
Forward-looking information is subject to risks, uncertainties and assumptions that could cause actual results to differ materially from anticipated results.
Latest events from Grupo Simec
- Lower steel prices and shipments drove sharp H1 and Q2 earnings declines.SIM
Q2 2023 - Lower steel prices drove a 52% 9M net income decline despite easing input costs.SIMQ3 2023
- Lower steel sales cut EBITDA 44%, while net income rose 41% on lower financial expense.SIMQ1 2024
- Exchange gains lifted H1 earnings despite lower steel sales and operating income.SIMQ2 2024
- Foreign-exchange gains lifted 9M net income despite weaker steel sales and operating income.SIMQ3 2024
- Lower input costs fueled a sharp QoQ profit rebound despite weaker YoY sales and net income.SIMQ1 2025
- Lower shipments and sharp FX losses drove a 94% H1 net income decline.SIMQ2 2025
- Foreign-exchange gains lifted FY profit despite weaker sales and operating income.SIMQ4 2024
- Lower steel prices cut FY23 sales and earnings; Q4 gross margin recovered QoQ.SIMQ4 2023