Yeah, is it better? Yeah, it's better. Much better. Yeah. Okay. So, sorry about that, guys. Yeah. No worries. So, the first question is a little bit more conceptual, Maximo. I mean, everyone has been following the story for many years, right? And now with Usiminas being consolidated, you guys obviously made a move some years ago with CSA, which is now Ternium Brazil, which is also super relevant. Just again, I know there's no decision and this is all very conceptual, but would it make any sense, I mean, do ...

Ternium S.A. (NYSE:TX) Q1 2023 Earnings Call Transcript April 26, 2023 8:00 AM ET Company Participants Sebastian Marti - Investor Relations Maximo Vedoya - Chief Executive Officer Pablo Brizzio - Chief Financial Officer Conference Call Participants Caio Greiner - BTG Pactual Caio Ribeiro - Bank of America Timna Tanners - Wolfe Research Thiago Lofiego - Bradesco Carlos Alba - Morgan Stanley Operator Ladies and gentlemen, thank you for standing by. And welcome to the Ternium First Quarter 2023 Results Call. I ...

Economic Environment - Ternium's business is significantly affected by global economic activity, with a downturn leading to reduced steel demand and adverse effects on operations [36]. - In 2022, the Russian invasion of Ukraine contributed to higher global commodity prices and inflation, negatively impacting economic activity and steel consumption growth [36]. - Steel prices are volatile; they peaked in September 2021 but began to decline thereafter, with a new upward trend observed in early 2023 [39]. - The steel industry faces intense competition, which could lead to declining margins and reduced shipments for Ternium [45]. - Economic and political instability in Argentina has historically impacted Ternium's business, with significant downturns noted during the 2008-2009 global recession and the COVID-19 outbreak [110]. - The Argentine economy faces high inflation rates and a fiscal deficit, which could reduce demand for Ternium Argentina's products [112]. - Ternium's business in Mexico could be adversely affected by changes in government policies and economic conditions, including high inflation and currency devaluation [101]. - The Mexican Energy Industry Law could negatively impact Ternium's operational results by prioritizing state-owned companies over private generators [102]. Supply Chain and Operations - Ternium's reliance on a limited number of key suppliers, such as Vale for iron ore, poses risks if these suppliers fail to deliver [50]. - Fluctuations in inventory levels and supply chain disruptions can affect customer demand for Ternium's products, as seen during the semiconductor shortage in 2021 [44]. - Ternium's ability to maintain profitability is challenged by price volatility and potential shortages of raw materials, slabs, and energy inputs [47]. - Ternium's operations could be adversely affected by extreme weather events, as seen with disruptions in iron ore supply due to low water levels in waterways and natural gas supply interruptions from severe weather in the U.S. and Mexico [70]. - The company faces risks from climate change, including increased operating costs and potential disruptions to operations due to chronic changes in weather patterns and extreme weather events [72]. Financial Performance and Investments - As of December 31, 2022, Ternium's goodwill related to its Mexican subsidiaries was $662.3 million, and the carrying value of its investment in non-consolidated companies, primarily Usiminas, was $821.6 million [56]. - Ternium recorded impairment charges on its investment in Usiminas totaling $275.3 million, $739.8 million, $191.9 million, and $120.4 million in previous years, with the 2022 impairment reflecting lower production availability and increased interest rates [57]. - The recoverable value of Ternium's investment in Ternium Brasil as of December 31, 2022, was $1.8 billion, with a write-down of $99.0 million due to expectations of lower margins and increased interest rates [57]. - Ternium's ownership stake in Usiminas had a market value of approximately $356.2 million as of December 31, 2022 [57]. - Ternium's operations are exposed to foreign currency exchange rate fluctuations, impacting its financial results due to a significant portion of transactions being conducted in currencies other than the U.S. dollar [65]. - Ternium's ability to pay dividends is dependent on the financial condition and operational results of its subsidiaries, which could be affected by legal and regulatory limitations [94]. Regulatory and Compliance Risks - Ternium is subject to evolving tax regulations that could negatively impact financial results, with new OECD initiatives set to apply from 2024 [91]. - The company may incur additional taxes or penalties due to differing interpretations of tax laws by governmental authorities [93]. - Ternium's operations are subject to risks in emerging markets, particularly in Mexico, Brazil, and Argentina, which could adversely affect shipment volumes and financial results [99]. - The company faces potential liabilities from environmental damages, which could adversely affect margins, cash flow, and profitability [76]. - Ternium's operations are subject to increasingly complex and stringent environmental regulations, leading to higher compliance costs [135]. Strategic Growth and Development - The company is pursuing growth through strategic acquisitions and investments, including a new upstream production capacity project in the USMCA region announced in February 2023 [53]. - Ternium's strategy includes enhancing competitiveness through operational excellence and a full product range offering, but delays or failures in execution could impact revenue [52]. - Ternium has significant business opportunities in the USMCA region, with Mexican steel producers covering approximately half of the flat steel demand in the country [176]. - The implementation of the USMCA trade agreement has made the region attractive for continued investment, with new steelmaking facilities expected to produce high-specification steels for demanding applications [177]. - Ternium's new downstream project at the Pesquería Industrial Center in Mexico includes a push-pull pickling line and new finishing lines, expected to be commissioned by mid-2024, and a cold-rolling mill and hot-dip galvanizing line, expected to begin operations by the end of 2025 [175]. Community and Environmental Initiatives - Ternium's commitment to reducing its carbon footprint includes partnerships to develop low carbon dioxide emitting technologies and measures for decarbonization [155]. - The company emphasizes environmental excellence and biodiversity protection as part of its climate change agenda [150]. - Ternium's community programs focus on education, culture, health, and volunteer work, aiming to promote sustainable growth in local communities [191]. - The ProPymes program supports small and medium enterprises, fostering the development of the industrial value chain in Mexico and Argentina [193]. Production Capacity and Technological Advancements - Ternium's crude steel production capacity was approximately 12.5 million tons as of December 31, 2022 [208]. - The finished steel products production capacity was approximately 15.2 million tons as of December 31, 2022 [208]. - Ternium's iron ore pellets production capacity was 4.0 million tons as of December 31, 2022 [208]. - The total nominal capacity of Ternium's coke plants is 2,840 thousand tons per year [209]. - Ternium's new hot-rolling mill in Mexico, started in 2021, has an annual production capacity of 4.4 million tons, enhancing steel production capabilities [181]. - The company has implemented a "Safety First" program to enhance safety culture and reduce risks in production processes [185].

FORM 6 - K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a - 16 or 15d - 16 of the Securities Exchange Act of 1934 As of 3/30/2023 Ternium S.A. (Translation of Registrant's name into English) Ternium S.A. 26, Boulevard Royal, 4th floor L-2449 Luxembourg (352) 2668-3152 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40- F. Form 20-Fa Form 40-F __ I ...

Ternium S.A. (NYSE:TX) Q4 2022 Earnings Conference Call February 15, 2023 8:00 AM ET Company Participants Sebastian Marti - Global IR and Compliance Senior Director Maximo Vedoya - CEO Pablo Brizzio - CFO Conference Call Participants Caio Greiner - BTG Pactual Timna Tanners - Wolfe Research Isabella Vasconcelos - Bradesco BBI Alfonso Salazar - Scotiabank Alex Hacking - Citi Operator Good morning, my name is Rob and I'll be your conference operator today. At this time. I would like to welcome everyone to the ...

Ternium S.A. (NYSE:TX) Q3 2022 Earnings Conference Call November 3, 2022 8:00 AM ET Company Participants Sebastian Marti - Global Investor Relations & Compliance Senior Director Maximo Vedoya - Chief Executive Officer Pablo Brizzio - Chief Financial Officer Conference Call Participants Caio Greiner - BTG Pactual Jon Brandt - HSBC Carlos De Alba - Morgan Stanley Thiago Lofiego - Bradesco Alfonso Salazar - Scotiabank Timna Tanners - Wolf Research Operator Ladies and gentlemen, thank you for standing by, and w ...

Financial Data and Key Metrics Changes - Ternium reported an adjusted EBITDA of $1.2 billion for Q2 2022, with a margin of $414 per ton, similar to Q1 2022 [8][27] - For the past 12 months, Ternium generated $5.8 billion in adjusted EBITDA and $1.9 billion in free cash flow, returning over $500 million to shareholders in dividends [9] - Net income for the period reached $936 million, or $4.07 per ADS, reflecting strong operational performance [27] Business Line Data and Key Metrics Changes - Steel shipments in Mexico were 1.7 million tons in Q2 2022, slightly below the previous year's level [28] - Consolidated steel shipments totaled 3 million tons in Q2 2022, stable sequentially but down year-over-year [30] - The company anticipates a decrease in steel prices in Q3 2022, reflecting a significant decline in benchmark prices [30] Market Data and Key Metrics Changes - The industrial market in Mexico remains relatively healthy, with the auto industry facing supply chain disruptions [12] - In Argentina, steel demand remains stable despite macroeconomic volatility, with good demand from sectors like agribusiness and energy [17] - The commercial market in Mexico is experiencing weak demand due to destocking processes and higher interest rates [16] Company Strategy and Development Direction - Ternium aims to stabilize its operations amid increased volatility in the business environment, particularly due to geopolitical factors and inflationary pressures [10][11] - The company is focusing on enhancing its competitive position and cash generation capabilities to navigate market volatility [24] - Ternium is committed to sustainability, having released its annual sustainability report and improved CO2 emissions management [18][20] Management's Comments on Operating Environment and Future Outlook - Management expects continued volatility in the business environment but believes steel business variables are stabilizing [11] - The company is optimistic about maintaining healthy shipments in the coming quarters, despite anticipated margin decreases [23] - Management highlighted the importance of addressing supply chain disruptions and the potential for increased shipments once these issues are resolved [14] Other Important Information - Ternium's safety performance has improved, with the lowest lost time injury frequency rate recorded in the first half of the year [22] - The company is actively working on its engineering projects to comply with USMCA regulations for the automotive industry by 2027 [54] Q&A Session Summary Question: Volume trends in Mexico and EBITDA guidance - Management indicated that the Pesqueria facility is operating at 80%-85% capacity, but market conditions are affecting overall volumes [41] - EBITDA is expected to normalize to a range of 15%-20% in the future, reflecting historical averages [43][44] Question: Impact of US steel imports on the Mexican market - Management noted that imports have decreased from last year's peak, and Ternium's market share is increasing [52][53] Question: Steel demand in Argentina - Demand remains stable, but macroeconomic uncertainties could affect future volumes [78] Question: Incremental shipments from Pesqueria - Management acknowledged that the initial shipment targets for 2022 would not be met due to unexpected market conditions [84] Question: Construction sector outlook - Management expressed caution regarding the construction sector, highlighting low inventory levels and the potential for restocking [96] Question: Working capital usage - The increase in working capital was primarily due to higher prices, and a decrease is expected in the coming quarters [105]

Call Start: 08:30 January 1, 0000 9:22 AM ET Ternium S.A. (NYSE:TX) Q1 2022 Earnings Conference Call April 27, 2022 08:30 ET Company Participants Sebastian Marti - Global Investor Relations & Compliance Senior Director Maximo Vedoya - Chief Executive Officer Pablo Brizzio - Chief Financial Officer Conference Call Participants Caio Greiner - BTG Pactual Carlos De Alba - Morgan Stanley Thiago Lofiego - Banco Bradesco Alfonso Salazar - Scotiabank Operator Good morning. My name is Rob and I will be your confere ...

FORM 6 - K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a - 16 or 15d - 16 of the Securities Exchange Act of 1934 As of 3/30/2022 Ternium S.A. (Translation of Registrant's name into English) Ternium S.A. 26, Boulevard Royal, 4th floor L-2449 Luxembourg (352) 2668-3152 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40- F. Form 20-Fa Form 40-F __ I ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ Registration statement pursuant to Section 12(b) or 12(g) of the Securities Exchange Act of 1934 or Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2021 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 or ☐ Shell company report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 19 ...