Ternium(US:TX)2025-04-30 15:26Financial Performance - Adjusted EBITDA increased, driven by enhanced margins and increased shipments of steel and iron ore[8] - In Q1 2025, net income includes a $45 million loss due to an adjustment for interest accrual and currency fluctuation related to the Usiminas acquisition litigation[15] - Mining net sales increased 13% sequentially, mainly driven by higher iron ore realized prices[28] Steel Segment - Steel shipments in Q1 2025 were 1.911 million tons, with Mexico accounting for 49.5%, Brazil 26.1%, Southern Region 12.7%, USA 6%, and other markets 11.7%[20, 21] - Steel shipments rose in Q1 2025, driven by increases in Brazil and the US markets, partially offset by a decrease in Mexico[24] - Steel revenue per ton decreased sequentially in most of Ternium's markets in Q1 2025[24] - Steel cash operating income per ton was $72/ton in Q1 2025 with a margin of 7%[23] Mining Segment - Mining shipments rose slightly sequentially to 3.059 million tons in Q1 2025, driven by higher production in Mexico and Brazil[26, 28] - Mining cash operating income per ton was $18/ton in Q1 2025 with a margin of 20%[26] - Margins declined in the 1Q25 due to higher production costs, partially offset by an increase in realized iron ore prices[27] Cash Flow and Balance Sheet - Net cash position decreased primarily due to cash outflows related to Ternium's capital expenditure program[33] - Capex in Q1 2025 was $518 million, mainly reflecting progress on the expansion projects at Ternium's Pesquería Industrial Center[32, 36]