Grupo Simec SA De CV (SIM) has released an update.
Grupo Simec reported a significant decline in net sales for the first nine months of 2024, dropping to Ps. 24,828 million, a 23% decrease from the same period in 2023, primarily due to lower average selling prices and reduced shipment volumes. Despite this setback, the company recorded a remarkable 125% increase in net income, rising to Ps. 8,587 million, driven by improved financial performance and lower costs in certain areas. Investors should note the company’s strategic adjustments amidst fluctuating market conditions.
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