We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Ternium SA | NYSE:TX | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.26 | -0.60% | 43.05 | 43.68 | 42.98 | 43.68 | 233,766 | 01:00:00 |
By: /s/ Guillermo Etchepareborda | By:/s/ Sebastián Martí | |||||||
Name: Guillermo Etchepareborda | Name: Sebastián Martí | |||||||
Title: Attorney in Fact | Title: Attorney in Fact |
TERNIUM S.A. | |||||
Consolidated Condensed Interim Financial Statements | |||||
as of September 30, 2022 | |||||
and for the nine-month periods | |||||
ended on September 30, 2022 and 2021 | |||||
26 Boulevard Royal, 4th floor | |||||
L – 2449 Luxembourg | |||||
R.C.S. Luxembourg: B 98 668 |
Page | ||||||||
Consolidated Condensed Interim Statements of Financial Position | ||||||||
Consolidated Condensed Interim Statements of Changes in Equity | ||||||||
Consolidated Condensed Interim Statements of Cash Flows | ||||||||
Notes to the Consolidated Condensed Interim Financial Statements | ||||||||
1 | General information and basis of presentation | |||||||
2 | Accounting policies | |||||||
3 | Segment information | |||||||
4 | Cost of sales | |||||||
5 | Selling, general and administrative expenses | |||||||
6 | Finance expense, Finance income and Other financial income (expenses), net | |||||||
7 | Property, plant and equipment, net | |||||||
8 | Intangible assets, net | |||||||
9 | Investments in non-consolidated companies | |||||||
10 | Distribution of dividends | |||||||
11 | Contingencies, commitments and restrictions on the distribution of profits | |||||||
12 | Related party transactions | |||||||
13 | Financial instruments by category and fair value measurement | |||||||
14 | Foreign exchange restrictions in Argentina | |||||||
15 | The Russia-Ukraine armed conflict |
Page 1 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 | ||||||||
(All amounts in $ thousands) |
Three-month period ended September 30, | Nine-month period ended September 30, | |||||||||||||||||||||||||||||||
Notes | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||||||||||||||||||
Net sales | 3 | 4,125,478 | 4,592,007 | 12,867,983 | 11,761,067 | |||||||||||||||||||||||||||
Cost of sales | 3 & 4 | (3,325,164) | (2,621,145) | (9,368,257) | (7,175,088) | |||||||||||||||||||||||||||
Gross profit | 3 | 800,314 | 1,970,862 | 3,499,726 | 4,585,979 | |||||||||||||||||||||||||||
Selling, general and administrative expenses | 3 & 5 | (277,355) | (237,356) | (869,102) | (692,254) | |||||||||||||||||||||||||||
Other operating income, net | 3 | 3,280 | 1,874 | 25,782 | 18,869 | |||||||||||||||||||||||||||
Operating income | 3 | 526,239 | 1,735,380 | 2,656,406 | 3,912,594 | |||||||||||||||||||||||||||
Finance expense | 6 | (14,634) | (6,527) | (28,569) | (20,551) | |||||||||||||||||||||||||||
Finance income | 6 | 7,080 | 19,391 | 47,033 | 54,160 | |||||||||||||||||||||||||||
Other financial (expense) income, net | 6 | (47,393) | 19,802 | (97,104) | 37,919 | |||||||||||||||||||||||||||
Equity in earnings of non-consolidated companies | 9 | (89,688) | 84,421 | 18,334 | 301,994 | |||||||||||||||||||||||||||
Profit before income tax expense | 381,604 | 1,852,467 | 2,596,100 | 4,286,116 | ||||||||||||||||||||||||||||
Income tax expense | (161,701) | (486,027) | (562,494) | (1,054,744) | ||||||||||||||||||||||||||||
Profit for the period | 219,903 | 1,366,440 | 2,033,606 | 3,231,372 | ||||||||||||||||||||||||||||
Attributable to: | ||||||||||||||||||||||||||||||||
Owners of the parent | 152,793 | 1,202,063 | 1,727,684 | 2,827,099 | ||||||||||||||||||||||||||||
Non-controlling interest | 67,110 | 164,377 | 305,922 | 404,273 | ||||||||||||||||||||||||||||
Profit for the period | 219,903 | 1,366,440 | 2,033,606 | 3,231,372 | ||||||||||||||||||||||||||||
Weighted average number of shares outstanding | 1,963,076,776 | 1,963,076,776 | 1,963,076,776 | 1,963,076,776 | ||||||||||||||||||||||||||||
Basic and diluted earnings per share for profit attributable to the equity holders of the company (expressed in $ per share) | 0.08 | 0.61 | 0.88 | 1.44 |
Page 2 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 | ||||||||
(All amounts in $ thousands) |
Three-month period ended September 30, | Nine-month period ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||||||||||||
Profit for the period | 219,903 | 1,366,440 | 2,033,606 | 3,231,372 | ||||||||||||||||||||||
Items that may be reclassified subsequently to profit or loss: | ||||||||||||||||||||||||||
Currency translation adjustment | (314) | (391) | 248 | (262) | ||||||||||||||||||||||
Currency translation adjustment from participation in non-consolidated companies | (26,351) | (54,065) | 15,960 | (24,157) | ||||||||||||||||||||||
Changes in the fair value of financial instruments at fair value through other comprehensive income | (7,683) | 10,917 | (47,271) | (3,724) | ||||||||||||||||||||||
Income tax related to financial instruments at fair value | 2,415 | (3,829) | 15,911 | 1,440 | ||||||||||||||||||||||
Changes in the fair value of derivatives classified as cash flow hedges | 4 | 57 | 59 | 216 | ||||||||||||||||||||||
Income tax related to cash flow hedges | (1) | (17) | (18) | (65) | ||||||||||||||||||||||
Other comprehensive income items from participation in non-consolidated companies | 14 | (115) | 219 | (79) | ||||||||||||||||||||||
Items that will not be reclassified subsequently to profit or loss: | ||||||||||||||||||||||||||
Remeasurement of post employment benefit obligations | — | — | (3,042) | 48,719 | ||||||||||||||||||||||
Income tax relating to remeasurement of post employment benefit obligations | — | — | 1,025 | (14,386) | ||||||||||||||||||||||
Remeasurement of post employment benefit obligations from participation in non-consolidated companies | (518) | (878) | (2,448) | (3,348) | ||||||||||||||||||||||
Other comprehensive income (loss) for the period, net of tax | (32,434) | (48,321) | (19,357) | 4,354 | ||||||||||||||||||||||
Total comprehensive income for the period | 187,469 | 1,318,119 | 2,014,249 | 3,235,726 | ||||||||||||||||||||||
Attributable to: | ||||||||||||||||||||||||||
Owners of the parent | 123,962 | 1,154,832 | 1,718,806 | 2,830,500 | ||||||||||||||||||||||
Non-controlling interest | 63,507 | 163,287 | 295,443 | 405,226 | ||||||||||||||||||||||
Total comprehensive income for the period | 187,469 | 1,318,119 | 2,014,249 | 3,235,726 |
Page 3 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 | ||||||||
(All amounts in $ thousands) |
Balances as of | ||||||||||||||||||||||||||||||||
Notes | September 30, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
Non-current assets | ||||||||||||||||||||||||||||||||
Property, plant and equipment, net | 7 | 6,381,478 | 6,431,578 | |||||||||||||||||||||||||||||
Intangible assets, net | 8 | 927,067 | 902,256 | |||||||||||||||||||||||||||||
Investments in non-consolidated companies | 9 | 782,533 | 751,475 | |||||||||||||||||||||||||||||
Other investments | 93,195 | 67,277 | ||||||||||||||||||||||||||||||
Deferred tax assets | 208,292 | 160,745 | ||||||||||||||||||||||||||||||
Receivables, net | 250,592 | 177,803 | ||||||||||||||||||||||||||||||
Trade receivables, net | — | 8,643,157 | 229 | 8,491,363 | ||||||||||||||||||||||||||||
Current assets | ||||||||||||||||||||||||||||||||
Receivables, net | 574,206 | 357,705 | ||||||||||||||||||||||||||||||
Derivative financial instruments | 6,485 | 4,353 | ||||||||||||||||||||||||||||||
Inventories, net | 3,966,258 | 3,908,305 | ||||||||||||||||||||||||||||||
Trade receivables, net | 1,487,447 | 1,767,196 | ||||||||||||||||||||||||||||||
Other investments | 1,268,431 | 1,290,459 | ||||||||||||||||||||||||||||||
Cash and cash equivalents | 1,474,158 | 8,776,985 | 1,276,605 | 8,604,623 | ||||||||||||||||||||||||||||
Non-current assets classified as held for sale | 1,764 | 1,921 | ||||||||||||||||||||||||||||||
8,778,749 | 8,606,544 | |||||||||||||||||||||||||||||||
Total Assets | 17,421,906 | 17,097,907 | ||||||||||||||||||||||||||||||
EQUITY | ||||||||||||||||||||||||||||||||
Capital and reserves attributable to the owners of the parent | 11,900,248 | 10,535,019 | ||||||||||||||||||||||||||||||
Non-controlling interest | 1,879,176 | 1,700,019 | ||||||||||||||||||||||||||||||
Total Equity | 13,779,424 | 12,235,038 | ||||||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||
Non-current liabilities | ||||||||||||||||||||||||||||||||
Provisions | 80,031 | 83,299 | ||||||||||||||||||||||||||||||
Deferred tax liabilities | 203,771 | 186,216 | ||||||||||||||||||||||||||||||
Other liabilities | 536,597 | 506,886 | ||||||||||||||||||||||||||||||
Trade payables | 1,084 | 989 | ||||||||||||||||||||||||||||||
Lease liabilities | 199,252 | 215,250 | ||||||||||||||||||||||||||||||
Borrowings | 535,533 | 1,556,268 | 656,465 | 1,649,105 | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||||||
Current income tax liabilities | 42,816 | 873,759 | ||||||||||||||||||||||||||||||
Other liabilities | 330,641 | 345,123 | ||||||||||||||||||||||||||||||
Trade payables | 1,121,283 | 1,126,049 | ||||||||||||||||||||||||||||||
Derivative financial instruments | 594 | 1,889 | ||||||||||||||||||||||||||||||
Lease liabilities | 46,389 | 44,371 | ||||||||||||||||||||||||||||||
Borrowings | 544,491 | 2,086,214 | 822,573 | 3,213,764 | ||||||||||||||||||||||||||||
Total Liabilities | 3,642,482 | 4,862,869 | ||||||||||||||||||||||||||||||
Total Equity and Liabilities | 17,421,906 | 17,097,907 |
Page 4 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 | ||||||||
(All amounts in $ thousands) |
Attributable to the owners of the parent (1) | |||||||||||||||||||||||||||||||||||||||||
Capital stock (2) | Treasury shares (2) | Initial public offering expenses | Reserves (3) | Capital stock issue discount (4) | Currency translation adjustment | Retained earnings | Total | Non-controlling interest | Total Equity | ||||||||||||||||||||||||||||||||
Balance as of January 1, 2022 | 2,004,743 | (150,000) | (23,295) | 1,360,637 | (2,324,866) | (2,898,593) | 12,566,393 | 10,535,019 | 1,700,019 | 12,235,038 | |||||||||||||||||||||||||||||||
Profit for the period | 1,727,684 | 1,727,684 | 305,922 | 2,033,606 | |||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) for the period | |||||||||||||||||||||||||||||||||||||||||
Currency translation adjustment | 15,035 | 15,035 | 1,173 | 16,208 | |||||||||||||||||||||||||||||||||||||
Remeasurement of post employment benefit obligations | (3,854) | (3,854) | (611) | (4,465) | |||||||||||||||||||||||||||||||||||||
Cash flow hedges and others, net of tax | 21 | 21 | 20 | 41 | |||||||||||||||||||||||||||||||||||||
Others (5) | (20,080) | (20,080) | (11,061) | (31,141) | |||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) for the period | — | — | — | (23,913) | — | 15,035 | 1,727,684 | 1,718,806 | 295,443 | 2,014,249 | |||||||||||||||||||||||||||||||
Dividends paid in cash (6) | (353,354) | (353,354) | — | (353,354) | |||||||||||||||||||||||||||||||||||||
Dividends paid in kind to non-controlling interest | — | (112,293) | (112,293) | ||||||||||||||||||||||||||||||||||||||
Acquisition of non-controlling interest (7) | (223) | (223) | (3,993) | (4,216) | |||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2022 (unaudited) | 2,004,743 | (150,000) | (23,295) | 1,336,501 | (2,324,866) | (2,883,558) | 13,940,723 | 11,900,248 | 1,879,176 | 13,779,424 |
Page 5 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 | ||||||||
(All amounts in $ thousands) |
Attributable to the owners of the parent (1) | |||||||||||||||||||||||||||||||||||||||||
Capital stock (2) | Treasury shares (2) | Initial public offering expenses | Reserves (3) | Capital stock issue discount (4) | Currency translation adjustment | Retained earnings | Total | Non-controlling interest | Total Equity | ||||||||||||||||||||||||||||||||
Balance as of January 1, 2021 | 2,004,743 | (150,000) | (23,295) | 1,329,945 | (2,324,866) | (2,861,029) | 9,310,617 | 7,286,115 | 1,157,038 | 8,443,153 | |||||||||||||||||||||||||||||||
Profit for the period | 2,827,099 | 2,827,099 | 404,273 | 3,231,372 | |||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) for the period | |||||||||||||||||||||||||||||||||||||||||
Currency translation adjustment | (22,663) | (22,663) | (1,756) | (24,419) | |||||||||||||||||||||||||||||||||||||
Remeasurement of post employment benefit obligations | 27,561 | 27,561 | 3,424 | 30,985 | |||||||||||||||||||||||||||||||||||||
Cash flow hedges, net of tax | 77 | 77 | 74 | 151 | |||||||||||||||||||||||||||||||||||||
Others | (1,574) | (1,574) | (789) | (2,363) | |||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) for the period | — | — | — | 26,064 | — | (22,663) | 2,827,099 | 2,830,500 | 405,226 | 3,235,726 | |||||||||||||||||||||||||||||||
Dividends paid in cash | (412,246) | (412,246) | — | (412,246) | |||||||||||||||||||||||||||||||||||||
Acquisition of non-controlling interest (5) | 11 | 11 | (768) | (757) | |||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2021 (unaudited) | 2,004,743 | (150,000) | (23,295) | 1,356,020 | (2,324,866) | (2,883,692) | 11,725,470 | 9,704,380 | 1,561,496 | 11,265,876 |
Page 6 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 | ||||||||
(All amounts in $ thousands) |
Nine-month period ended September 30, | ||||||||||||||||||||
Notes | 2022 | 2021 | ||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||
Profit for the period | 2,033,606 | 3,231,372 | ||||||||||||||||||
Adjustments for: | ||||||||||||||||||||
Depreciation and amortization | 7 & 8 | 456,068 | 445,582 | |||||||||||||||||
Income tax accruals less payments | (1,105,929) | 467,134 | ||||||||||||||||||
Equity in earnings of non-consolidated companies | 9 | (18,334) | (301,994) | |||||||||||||||||
Interest accruals less payments | 8,767 | 3,753 | ||||||||||||||||||
Changes in provisions | (1,561) | 9,622 | ||||||||||||||||||
Changes in working capital (1) | 197,747 | (2,459,444) | ||||||||||||||||||
Net foreign exchange results and others | 150,387 | 146,214 | ||||||||||||||||||
Net cash provided by operating activities | 1,720,751 | 1,542,239 | ||||||||||||||||||
Cash flows from investing activities | ||||||||||||||||||||
Capital expenditures | 7 & 8 | (421,847) | (401,713) | |||||||||||||||||
Increase in other investments | (326,598) | (23,723) | ||||||||||||||||||
Proceeds from the sale of property, plant and equipment | 1,246 | 1,316 | ||||||||||||||||||
Dividends received from non-consolidated companies | 28,884 | 499 | ||||||||||||||||||
Acquisition of non-controlling interest | (4,216) | (757) | ||||||||||||||||||
Net cash used in investing activities | (722,531) | (424,378) | ||||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||
Dividends paid in cash to company’s shareholders | (353,354) | (412,246) | ||||||||||||||||||
Finance lease payments | (37,187) | (33,954) | ||||||||||||||||||
Proceeds from borrowings | 225,071 | 205,488 | ||||||||||||||||||
Repayments of borrowings | (614,374) | (425,201) | ||||||||||||||||||
Net cash used in financing activities | (779,844) | (665,913) | ||||||||||||||||||
Increase in cash and cash equivalents | 218,376 | 451,948 | ||||||||||||||||||
Movement in cash and cash equivalents | ||||||||||||||||||||
At January 1, | 1,276,605 | 537,882 | ||||||||||||||||||
Effect of exchange rate changes | (20,823) | (42,255) | ||||||||||||||||||
Increase in cash and cash equivalents | 218,376 | 451,948 | ||||||||||||||||||
Cash and cash equivalents as of September 30, (2) | 1,474,158 | 947,575 | ||||||||||||||||||
Non-cash transactions: | ||||||||||||||||||||
Dividends paid in kind to non-controlling interest | (112,293) | — | ||||||||||||||||||
Acquisition of PP&E under lease contract agreements | 12,174 | 11,230 |
Page 7 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Page 8 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Nine-month period ended September 30, 2022 (Unaudited) | ||||||||||||||||||||||||||
Steel | Mining | Inter-segment eliminations | Total | |||||||||||||||||||||||
Net sales | 12,867,920 | 314,388 | (314,325) | 12,867,983 | ||||||||||||||||||||||
Cost of sales | (9,394,619) | (261,366) | 287,728 | (9,368,257) | ||||||||||||||||||||||
Gross profit | 3,473,301 | 53,022 | (26,597) | 3,499,726 | ||||||||||||||||||||||
Selling, general and administrative expenses | (841,702) | (27,400) | — | (869,102) | ||||||||||||||||||||||
Other operating income (loss), net | 26,795 | (1,013) | — | 25,782 | ||||||||||||||||||||||
Operating income | 2,658,394 | 24,609 | (26,597) | 2,656,406 | ||||||||||||||||||||||
Depreciation and amortization (included in Cost of sales and Selling, general and administrative expenses) | (390,846) | (65,222) | — | (456,068) | ||||||||||||||||||||||
Nine-month period ended September 30, 2021 (Unaudited) | ||||||||||||||||||||||||||
Steel | Mining | Inter-segment eliminations | Total | |||||||||||||||||||||||
Net sales | 11,723,079 | 366,845 | (328,857) | 11,761,067 | ||||||||||||||||||||||
Cost of sales | (7,278,630) | (227,675) | 331,217 | (7,175,088) | ||||||||||||||||||||||
Gross profit | 4,444,449 | 139,170 | 2,360 | 4,585,979 | ||||||||||||||||||||||
Selling, general and administrative expenses | (671,773) | (20,481) | — | (692,254) | ||||||||||||||||||||||
Other operating income, net | 18,710 | 159 | — | 18,869 | ||||||||||||||||||||||
Operating income | 3,791,386 | 118,848 | 2,360 | 3,912,594 | ||||||||||||||||||||||
Depreciation and amortization (included in Cost of sales and Selling, general and administrative expenses) | (398,124) | (47,458) | — | (445,582) | ||||||||||||||||||||||
Page 9 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Nine-month period ended September 30, 2022 (Unaudited) | ||||||||||||||||||||||||||
Mexico | Southern region | Brazil and other markets | Total | |||||||||||||||||||||||
Net sales | 6,975,691 | 2,894,941 | 2,997,351 | 12,867,983 | ||||||||||||||||||||||
Non-current assets (1) | 4,754,124 | 871,007 | 1,683,414 | 7,308,545 | ||||||||||||||||||||||
Nine-month period ended September 30, 2021 (Unaudited) | ||||||||||||||||||||||||||
Mexico | Southern region | Brazil and other markets | Total | |||||||||||||||||||||||
Net sales | 6,769,705 | 2,430,006 | 2,561,356 | 11,761,067 | ||||||||||||||||||||||
Non-current assets (1) | 4,785,029 | 879,198 | 1,695,273 | 7,359,500 | ||||||||||||||||||||||
(1) Includes Property, plant and equipment and Intangible assets. |
Nine-month period ended September 30, | ||||||||||||||
2022 | 2021 | |||||||||||||
(Unaudited) | ||||||||||||||
Inventories at the beginning of the year | 3,908,305 | 2,001,781 | ||||||||||||
Plus: Charges for the period | ||||||||||||||
Raw materials and consumables used and other movements | 7,683,998 | 7,343,465 | ||||||||||||
Services and fees | 134,544 | 112,217 | ||||||||||||
Labor cost | 672,257 | 520,069 | ||||||||||||
Depreciation of property, plant and equipment | 396,286 | 385,393 | ||||||||||||
Amortization of intangible assets | 29,779 | 16,623 | ||||||||||||
Maintenance expenses | 460,895 | 420,506 | ||||||||||||
Office expenses | 7,202 | 5,496 | ||||||||||||
Valuation allowance | 18,078 | — | ||||||||||||
Insurance | 11,644 | 8,584 | ||||||||||||
Change of obsolescence allowance | 26,841 | 777 | ||||||||||||
Recovery from sales of scrap and by-products | (30,953) | (26,634) | ||||||||||||
Others | 15,639 | 13,167 | ||||||||||||
Less: Inventories at the end of the period | (3,966,258) | (3,626,356) | ||||||||||||
Cost of Sales | 9,368,257 | 7,175,088 |
Page 10 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Nine-month period ended September 30, | ||||||||||||||
2022 | 2021 | |||||||||||||
(Unaudited) | ||||||||||||||
Services and fees | 55,517 | 44,136 | ||||||||||||
Labor cost | 229,709 | 190,631 | ||||||||||||
Depreciation of property, plant and equipment | 10,269 | 10,930 | ||||||||||||
Amortization of intangible assets | 19,734 | 32,636 | ||||||||||||
Maintenance and expenses | 6,313 | 5,195 | ||||||||||||
Taxes | 128,891 | 118,021 | ||||||||||||
Office expenses | 31,798 | 24,100 | ||||||||||||
Freight and transportation | 380,268 | 254,194 | ||||||||||||
Increase of allowance for doubtful accounts | 590 | 73 | ||||||||||||
Others | 6,013 | 12,338 | ||||||||||||
Selling, general and administrative expenses | 869,102 | 692,254 |
Nine-month period ended September 30, | ||||||||||||||
2022 | 2021 | |||||||||||||
(Unaudited) | ||||||||||||||
Interest expense | (28,569) | (20,551) | ||||||||||||
Finance expense | (28,569) | (20,551) | ||||||||||||
Interest income | 47,033 | 54,160 | ||||||||||||
Finance income | 47,033 | 54,160 | ||||||||||||
Net foreign exchange loss (1) | (137,143) | (25,400) | ||||||||||||
Change in fair value of financial assets | 57,608 | 37,698 | ||||||||||||
Derivative contract results | (1,610) | 3,997 | ||||||||||||
Others | (15,959) | 21,624 | ||||||||||||
Other financial (expenses) income, net | (97,104) | 37,919 |
Nine-month period ended September 30, | ||||||||||||||
2022 | 2021 | |||||||||||||
(Unaudited) | ||||||||||||||
At the beginning of the year | 6,431,578 | 6,504,681 | ||||||||||||
Currency translation differences | 129 | (173) | ||||||||||||
Additions | 360,289 | 365,734 | ||||||||||||
Value adjustments of lease contracts | 16,031 | 4,413 | ||||||||||||
Disposals | (18,077) | (19,428) | ||||||||||||
Depreciation charge | (406,555) | (396,323) | ||||||||||||
Capitalized borrowing costs | 403 | 5,902 | ||||||||||||
Transfers and reclassifications | (2,320) | (2,281) | ||||||||||||
At the end of the period | 6,381,478 | 6,462,525 |
Page 11 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Nine-month period ended September 30, | ||||||||||||||
2022 | 2021 | |||||||||||||
(Unaudited) | ||||||||||||||
At the beginning of the year | 902,256 | 908,583 | ||||||||||||
Additions | 72,003 | 47,208 | ||||||||||||
Amortization charge | (49,513) | (49,259) | ||||||||||||
Transfers/Disposals | 2,321 | (9,557) | ||||||||||||
At the end of the period | 927,067 | 896,975 |
Company | Country of incorporation | Main activity | Voting rights as of | Value as of | ||||||||||||||||||||||||||||||||||
September 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||
Usinas Siderurgicas de Minas Gerais S.A. - USIMINAS | Brazil | Manufacturing and selling of steel products | 34.39% | 34.39% | 696,654 | 681,711 | ||||||||||||||||||||||||||||||||
Techgen S.A. de C.V. | Mexico | Provision of electric power | 48.00% | 48.00% | 81,221 | 64,140 | ||||||||||||||||||||||||||||||||
Other non-consolidated companies (1) | 4,658 | 5,624 | ||||||||||||||||||||||||||||||||||||
782,533 | 751,475 |
Page 12 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Page 13 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Usiminas' shareholders' equity | 4,493,060 | |||||||
Percentage of interest of the Company over shareholders' equity | 20.40 | % | ||||||
Interest of the Company over shareholders' equity | 915,655 | |||||||
Purchase price allocation | 59,068 | |||||||
Goodwill | 192,253 | |||||||
Impairment | (470,322) | |||||||
Total Investment in Usiminas | 696,654 |
USIMINAS | ||||||||
Summarized balance sheet (in million $) | As of September 30, 2022 | |||||||
Assets | ||||||||
Non-current | 3,726 | |||||||
Current | 2,891 | |||||||
Other current investments | 165 | |||||||
Cash and cash equivalents | 785 | |||||||
Total Assets | 7,567 | |||||||
Liabilities | ||||||||
Non-current | 530 | |||||||
Non-current borrowings | 1,111 | |||||||
Current | 907 | |||||||
Current borrowings | 17 | |||||||
Total Liabilities | 2,565 | |||||||
Non-controlling interest | 509 | |||||||
Shareholders' equity | 4,493 |
Summarized income statement (in million $) | Nine-month period ended September 30, 2022 | |||||||
Net sales | 4,839 | |||||||
Cost of sales | (3,876) | |||||||
Gross Profit | 963 | |||||||
Selling, general and administrative expenses | (180) | |||||||
Other operating income (loss), net | (88) | |||||||
Operating income | 695 | |||||||
Financial income (expenses), net | 78 | |||||||
Equity in earnings of associated companies | 30 | |||||||
Profit before income tax | 803 | |||||||
Income tax expense | (231) | |||||||
Net profit before non-controlling interest | 572 | |||||||
Non-controlling interest in other subsidiaries | (66) | |||||||
Net profit for the period | 506 |
Page 14 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Page 15 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Page 16 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Nine-month period ended September 30, | ||||||||||||||
2022 | 2021 | |||||||||||||
(Unaudited) | ||||||||||||||
(i) Transactions | ||||||||||||||
(a) Sales of goods and services | ||||||||||||||
Sales of goods to non-consolidated parties | 587,305 | 736,753 | ||||||||||||
Sales of goods to other related parties | 157,936 | 149,025 | ||||||||||||
Sales of services and others to non-consolidated parties | 133 | 135 | ||||||||||||
Sales of services and others to other related parties | 3,258 | 1,138 | ||||||||||||
748,632 | 887,051 | |||||||||||||
(b) Purchases of goods and services | ||||||||||||||
Purchases of goods from non-consolidated parties | 500,705 | 332,839 | ||||||||||||
Purchases of goods from other related parties | 55,421 | 50,875 | ||||||||||||
Purchases of services and others from non-consolidated parties | 10,712 | 7,154 | ||||||||||||
Purchases of services and others from other related parties | 62,055 | 75,490 | ||||||||||||
628,893 | 466,358 | |||||||||||||
(c) Financial results | ||||||||||||||
Income with non-consolidated parties | 5,590 | 4,686 | ||||||||||||
Expenses in connection with lease contracts from other related parties | (722) | (787) | ||||||||||||
4,868 | 3,899 | |||||||||||||
(d) Dividends | ||||||||||||||
Dividends from non-consolidated parties | 1,007 | 48,371 | ||||||||||||
1,007 | 48,371 | |||||||||||||
(e) Other income and expenses | ||||||||||||||
Income (expenses), net with non-consolidated parties | 2,451 | 750 | ||||||||||||
Income (expenses), net with other related parties | 529 | 693 | ||||||||||||
2,980 | 1,443 |
September 30, 2022 | December 31, 2021 | |||||||||||||
(Unaudited) | ||||||||||||||
(ii) Period-end balances | ||||||||||||||
(a) Arising from sales/purchases of goods/services | ||||||||||||||
Receivables from non-consolidated parties | 193,903 | 204,329 | ||||||||||||
Receivables from other related parties | 20,475 | 26,690 | ||||||||||||
Advances to non-consolidated parties | 5,911 | 5,383 | ||||||||||||
Advances to suppliers with other related parties | 3,460 | 3,852 | ||||||||||||
Payables to non-consolidated parties | (83,721) | (72,373) | ||||||||||||
Payables to other related parties | (21,964) | (16,617) | ||||||||||||
Lease Liabilities with other related parties | (2,436) | (2,635) | ||||||||||||
115,628 | 148,629 |
Page 17 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
As of September 30, 2022 (in $ thousands) | Amortized cost | Assets at fair value through profit or loss | Assets at fair value through OCI | Total | ||||||||||||||||||||||
(i) Assets as per statement of financial position | ||||||||||||||||||||||||||
Receivables | 201,389 | — | — | 201,389 | ||||||||||||||||||||||
Derivative financial instruments | — | 6,485 | — | 6,485 | ||||||||||||||||||||||
Trade receivables | 1,487,447 | — | — | 1,487,447 | ||||||||||||||||||||||
Other investments | 403,359 | 152,015 | 806,000 | 1,361,374 | ||||||||||||||||||||||
Cash and cash equivalents | 490,650 | 972,889 | 10,619 | 1,474,158 | ||||||||||||||||||||||
Total | 2,582,845 | 1,131,389 | 816,619 | 4,530,853 | ||||||||||||||||||||||
As of September 30, 2022 (in $ thousands) | Amortized cost | Liabilities at fair value through profit or loss | Total | |||||||||||||||||||||||
(ii) Liabilities as per statement of financial position | ||||||||||||||||||||||||||
Other liabilities | 59,149 | — | 59,149 | |||||||||||||||||||||||
Trade payables | 1,081,969 | — | 1,081,969 | |||||||||||||||||||||||
Derivative financial instruments | — | 594 | 594 | |||||||||||||||||||||||
Lease liabilities | 245,641 | — | 245,641 | |||||||||||||||||||||||
Borrowings | 1,080,024 | — | 1,080,024 | |||||||||||||||||||||||
Total | 2,466,783 | 594 | 2,467,377 |
Fair value measurement as of September 30, 2022 (in $ thousands): | ||||||||||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||
Financial assets at fair value through profit or loss / OCI | ||||||||||||||||||||||||||
Cash and cash equivalents | 983,508 | 983,508 | — | — | ||||||||||||||||||||||
Other investments | 958,015 | 730,994 | 221,388 | 5,633 | ||||||||||||||||||||||
Derivative financial instruments | 6,485 | — | 6,485 | — | ||||||||||||||||||||||
Total assets | 1,948,008 | 1,714,502 | 227,873 | 5,633 | ||||||||||||||||||||||
Financial liabilities at fair value through profit or loss / OCI | ||||||||||||||||||||||||||
Derivative financial instruments | 594 | — | 594 | — | ||||||||||||||||||||||
Total liabilities | 594 | — | 594 | — |
Page 18 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Fair value measurement as of December 31, 2021 (in $ thousands): | ||||||||||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 (*) | ||||||||||||||||||||||
Financial assets at fair value through profit or loss / OCI | ||||||||||||||||||||||||||
Cash and cash equivalents | 692,529 | 692,529 | — | — | ||||||||||||||||||||||
Other investments | 735,654 | 668,056 | 39,777 | 27,821 | ||||||||||||||||||||||
Derivative financial instruments | 4,353 | — | 4,353 | — | ||||||||||||||||||||||
Total assets | 1,432,536 | 1,360,585 | 44,130 | 27,821 | ||||||||||||||||||||||
Financial liabilities at fair value through profit or loss / OCI | ||||||||||||||||||||||||||
Derivative financial instruments | 1,889 | — | 1,889 | — | ||||||||||||||||||||||
Total liabilities | 1,889 | — | 1,889 | — |
Page 19 of |
TERNIUM S.A. | ||||||||
Consolidated Condensed Interim Financial Statements as of September 30, 2022 | ||||||||
and for the nine-month periods ended September 30, 2022 and 2021 |
Pablo Brizzio | ||||||||||||||
Chief Financial Officer |
Page 20 of |
1 Year Ternium Chart |
1 Month Ternium Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions