Imsa eyes 65% Ebitda growth in Q2
Bnamericas Published: Monday, June 14, 2004
Mexican industrial conglomerate and steelmaker Grupo Imsa (NYSE: IMY) expects Ebitda to exceed US$150mn for the second quarter this year, a 65% increase year-on-year, the company announced as part of its Q2 forecast. "Imsa Acero's [Grupo Imsa's steelmaking arm] business in the US, Central America and Mexico benefited from better international prices and demand for steel and related products," Imsa said in reference to its steel unit. The company holds a "positive" outlook for 2004, though the second quarter's operating margin is expected to be higher than normal. Economic growth in China and North America will be key variables in Imsa's continued operations. Grupo Imsa posted 430mn pesos (US$38mn) in net income in the first quarter this year compared to 12mn pesos 1Q03, while corporate revenues hit a historic high at 8.69bn pesos, a 23% increase year-on-year, and Ebitda grew 25.7% to 995mn pesos.
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