EconomyFinancialThe drop in copper production impacts the profits of...

The drop in copper production impacts the profits of Grupo México

From July to September of this year, Grupo México ‘s copper production totaled 256,343 tons, which meant a decrease of 6.6% compared to the same period of the previous year, a drop that ended up impacting the company’s profits .

Due to the above, the company’s sales totaled 3,115 million dollars, which represented a decline of 14.7% , according to its quarterly report sent to the Mexican Stock Exchange.

Only the mining division of the company obtained sales of 2,364 million dollars, a figure that meant a decrease of 20.1% compared to the third quarter of last year. Likewise, it was affected by a drop of 18.6% in the price of copper during this period.

He explained that the drop in production was due to “non-recurring events” , such as the blockade of its complex in Cuajone, Peru, which, although it happened in the first half of the year, continued to reduce the levels of mineral extraction.

On the other hand, the transportation division of Grupo México added sales of 700 million dollars, which represented a 6.8% increase compared to the same period last year, while the profits of the infrastructure division totaled 193 million. dollars, thus resulting in an increase of 39.5% .

After the result of its three divisions, the company’s operating flow (Ebitda) in the third quarter totaled 1,424 million dollars, which meant a decline of 34.7% compared to the period from July to September last year.

In this indicator, the mining division registered a decrease of 44.2% in the quarter, while that of its transportation division rose 11.1% and that of infrastructure advanced 27.2%.

Due to the above, Grupo México’s net income in the third quarter totaled 576.5 million dollars, which represented a decrease of 29.5% compared to the third quarter of the previous year.

After the results, Grupo México highlighted that there is a continuous improvement process in the company “aimed at streamlining operational, financial and administrative processes, in order to strengthen and make disclosure of information to shareholders transparent,” it added in its report.

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