FORM
6 - K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Private Issuer
Pursuant
to Rule 13a - 16 or 15d - 16 of
the
Securities Exchange Act of 1934
As
of 5/4/2010
Ternium
S.A.
(Translation
of Registrant's name into English)
Ternium
S.A.
46a,
Avenue John F. Kennedy – 2nd floor
L-1855
Luxembourg
(352)
4661-11-3815
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or 40-F.
Form
20-F ü Form
40-F__
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12G3-2(b) under the Securities Exchange Act of 1934.
Yes
No ü
If “Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
Not
applicable
The
attached material is being furnished to the Securities and Exchange Commission
pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934,
as amended.
This
report contains Ternium S.A.’s press release announcing first quarter 2010
results.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
TERNIUM
S.A.
| By: /s/ Pablo Brizzio | By: /s/ Daniel Novegil |
| Name: Pablo Brizzio | Name: Daniel Novegil |
| Title: Chief Financial Officer | Title: Chief Executive Officer |
Dated:
May 4, 2010
 |
 |
Ternium Announces First Quarter 2010
Results
LUXEMBOURG--(Marketwire
- May 4, 2010) - Ternium S.A. (NYSE: TX) today announced its results for the
first quarter ended March 31, 2010.
The financial and operational information contained in this
press release is based on Ternium S.A.'s consolidated financial statements
prepared in accordance with International Financial Reporting Standards (IFRS)
and presented in U.S. dollars and metric tons.
Summary
of First Quarter 2010 Results
| 1Q 2010 | 4Q 2009 | 1Q 2009 | ||||||||||||||||||
|
Shipments
(tons)
|
1,908,000 | 1,655,000 | 15 | % | 1,504,000 | 27 | % | |||||||||||||
|
Net
Sales (US$ million)
|
1,650.6 | 1,365.2 | 21 | % | 1,174.7 | 41 | % | |||||||||||||
|
Operating
Income (US$ million)
|
293.5 | 216.1 | 36 | % | (26.5 | ) | ||||||||||||||
|
EBITDA
(US$ million)
|
384.8 | 315.9 | 22 | % | 95.0 | 305 | % | |||||||||||||
|
EBITDA
Margin (% of net sales)
|
23 | % | 23 | % | 8 | % | ||||||||||||||
|
EBITDA
per Ton, Flat & Long Steel (US$)
|
190 | 177 | 7 | % | 56 | 239 | % | |||||||||||||
|
Net
Foreign Exchange Result (US$ million)
|
101.0 | 72.2 | (160.5 | ) | ||||||||||||||||
|
Net
Income (US$ million)
|
245.1 | 194.8 | 26 | % | (117.0 | ) | ||||||||||||||
|
Equity
Holders' Net Income (US$ million)
|
205.2 | 159.3 | 29 | % | (93.2 | ) | ||||||||||||||
|
Earnings
per ADS (US$)
|
1.02 | 0.79 | 29 | % | (0.46 | ) | ||||||||||||||
-- EBITDA(1) of US$384.8 million in the first quarter 2010, up 22% compared to the fourth quarter 2009, mainly due to higher shipments and a slightly higher EBITDA per ton.
--
Earnings per ADS(2) of US$1.02 in the first quarter 2010, which
includes a
US$0.32 after-tax non-cash foreign exchange gain per ADS on Ternium's
Mexican
subsidiary's US dollar denominated debt.
--
Positive free cash flow(3) of US$258.6 million in the first quarter 2010.
--
Collection of US$300.2 million in March 2010 in connection with the transfer
of the Sidor shares to Venezuela.
-- Net
cash position of US$0.4 billion at the end of the first quarter 2010.
Ternium's
operating income in the first quarter 2010 was US$293.5 million, up 36% compared
to the fourth quarter 2009 mainly due to higher shipments and revenue per ton,
partially offset by higher operating cost per ton. Shipments increased 253,000
tons in the first quarter 2010 compared to the fourth quarter 2009, mainly due
to a 211,000 ton increase in shipments in the North America Region. Revenue per
ton increased US$43 in the first quarter 2010, as prices were higher in all of
Ternium's regions during the period than they were in the fourth quarter 2009.
The increase in prices was partially offset by higher operating cost per ton,
mainly as a result of higher costs for third-party slabs, scrap and energy, as
well as an increase in the share of third-party-slab-based products in Ternium's
first quarter 2010 sales mix.
Operating
income in the first quarter 2010 increased US$320.0 million when compared to the
first quarter 2009 mainly as a result of higher shipments, higher revenue per
ton and lower operating cost per ton. Shipments in the first quarter 2009 stood
at their lowest level in the last two years as a result of the economic downturn
that began in the second half of 2008. Revenue per ton in the first quarter 2009
was also significantly affected by the economic downturn, and only began to
gradually recover in the second half of 2009.
Ternium's
net income in the first quarter 2010 was US$245.1 million, an increase of
US$50.3 million compared to the fourth quarter 2009 mainly due to a US$77.4
million increase in operating income and a US$15.7 million increase in financial
income, partially offset by an increase in income tax expense.
Net
income in the first quarter 2010 was US$362.1 million higher than in the first
quarter 2009, mainly as a result of a US$320.0 million increase in operating
income and a US$254.2 million increase in non-cash net foreign exchange results
on Ternium's Mexican subsidiary US dollar denominated debt (which was offset by
changes in Ternium's net equity position), partially offset by an increase in
income tax expense.
Outlook
A gradual
recovery in business conditions in the NAFTA region, coupled with a restocking
in the steel value chain, should help sustain Ternium's increased shipment
levels in the second quarter 2010. In addition, the company expects shipments in
its core markets in the South & Central America Region to resume growth
following a seasonally weak first quarter.
Ternium
expects an increase in operating income in the second quarter 2010 compared to
the first quarter 2010 mainly as a result of slightly higher shipments and an
improved operating margin, as higher steel prices should be only partially
offset by higher raw material costs.
Analysis of First quarter 2010 Results
Net income attributable to
Ternium's equity holders in the first quarter 2010 was US$205.2 million,
compared with a net loss attributable to the company's equity holders of US$93.2
million in the first quarter 2009. Including minority interest, net income for
the first quarter 2010 was US$245.1 million, compared with a net loss of
US$117.0 million in the first quarter 2009. Earnings per ADS for the first
quarter 2010 were US$1.02, compared with a loss per ADS of US$0.46 in the first
quarter 2009.
Net sales in the first
quarter 2010 were US$1.7 billion, 41% higher than net sales in the first quarter
2009. Shipments of flat and long products were 1.9 million tons during the first
quarter 2010, an increase of 27% compared to such shipments in the first quarter
2009, mainly due to an increase in demand in Ternium's main steel markets.
Revenue per ton shipped was US$838 in the first quarter 2010, an increase of 10%
compared to the same quarter in 2009, mainly as a result of higher prices in the
North America Region, partially offset by lower prices in the South &
Central America Region.
|
Net
Sales (million US$)
|
Shipments
(thousand tons)
|
Revenue
/ ton (US$/ton)
|
||||||||||
|
1Q
2010
|
1Q
2009
|
Dif.
|
1Q
2010
|
1Q
2009
|
Dif.
|
1Q
2010
|
1Q
2009
|
Dif.
|
||||
|
South
& Central America
|
585.3
|
358.0
|
63%
|
628.5
|
363.7
|
73%
|
931
|
984
|
-5%
|
|||
|
North
America
|
834.8
|
545.6
|
53%
|
990.8
|
704.0
|
41%
|
843
|
775
|
9%
|
|||
|
Europe
& other
|
7.1
|
93.3
|
12.6
|
170.9
|
559
|
546
|
||||||
|
Total
flat products
|
1,427.1
|
996.8
|
43%
|
1,631.9
|
1,238.5
|
32%
|
874
|
805
|
9%
|
|||
|
South
& Central America
|
28.2
|
11.4
|
148%
|
56.7
|
23.1
|
145%
|
498
|
493
|
1%
|
|||
|
North
America
|
144.1
|
134.8
|
7%
|
218.8
|
239.4
|
-9%
|
658
|
563
|
17%
|
|||
|
Europe
& other
|
0.4
|
2.0
|
0.7
|
3.0
|
540
|
666
|
||||||
|
Total
long products
|
172.7
|
148.2
|
17%
|
276.2
|
265.5
|
4%
|
625
|
558
|
12%
|
|||
|
Total
flat and long products
|
1,599.7
|
1,145.0
|
40%
|
1,908.1
|
1,504.1
|
27%
|
838
|
761
|
10%
|
|||
|
Other
products (1)
|
50.9
|
29.7
|
71%
|
|||||||||
|
Total
Net Sales
|
1,650.6
|
1,174.7
|
41%
|
|||||||||
(1)
Primarily includes iron ore, pig iron and pre-engineered metal
buildings.
Sales of
flat products during the first quarter 2010 were US$1.4 billion, an increase of
43% compared with the same quarter in 2009. Net sales increased as a result of
higher shipments and revenue per ton. Shipments of flat products were 1.6
million tons in the first quarter 2010, an increase of 32% compared with the
same period in 2009, mainly due to an increase in demand in Ternium's main steel
markets. Revenue per ton shipped increased 9% to US$874 in the first quarter
2010 compared with the same period in 2009, mainly due to higher prices in the
North America Region, partially offset by lower prices in the South &
Central America Region.
Sales of
long products were US$172.7 million in the first quarter 2010, an increase of
17% compared to the same period in 2009 mainly due to higher volumes and revenue
per ton. Shipments of long products totaled 276,000 tons in the first quarter
2010, a 4% increase versus the same quarter in 2009 due to higher shipments in
the South & Central America Region, partially offset by lower shipments in
the North America Region. Revenue per ton shipped was US$625 in the first
quarter 2010, an increase of 12% compared to the first quarter 2009, mainly due
to higher prices in Mexico, partially offset by a lower value-added sales
mix.
Sales of
other products totaled US$50.9 million during the first quarter 2010, compared
to US$29.7 million during the first quarter 2009. The increase was mainly driven
by higher iron ore shipments and prices.
Sales of
flat and long products in the North America Region were US$978.8 million in the
first quarter 2010, an increase of 44% versus the same period in 2009, due to
higher shipments and revenue per ton. Shipments in the region totaled 1,210,000
tons during the first quarter 2010, or 28% higher than in the same period in
2009 as a result of higher demand. Revenue per ton shipped in the region
increased 12% to US$809 in the first quarter 2010 over the same quarter in 2009,
mainly due to higher prices.
Flat and
long product sales in the South & Central America Region were US$613.5
million during the first quarter 2010, an increase of 66% versus the same period
in 2009. This increase was mainly due to higher shipments, partially offset by
lower revenue per ton. Shipments in the region totaled 685,000 tons during the
first quarter 2010, or 77% higher than in the first quarter 2009, due to higher
steel demand in the region. Revenue per ton shipped was US$895 in the first
quarter 2010, a decrease of 6% compared to the same quarter in 2009, mainly due
to lower prices and a lower value-added sales mix.
Cost of sales totaled
US$1.2 billion in the first quarter 2010 compared to US$1.0 billion in the first
quarter 2009. Cost of sales increased mainly as a result of higher shipments,
partially offset by a lower cost per ton. The lower cost per ton year-over-year
was due to lower raw materials and third-party slabs costs, as well as the
absence of inventory write-downs in the first quarter 2010.
Selling, General &
Administrative (SG&A) expenses in the first quarter 2010 were
US$144.3 million, or 9% of net sales, compared with US$136.2 million, or 12% of
net sales, in the first quarter 2009. In the first quarter 2010 there were
higher freight expenses and taxes, both related to higher shipment
levels.
Operating income in the
first quarter 2010 was US$293.5 million, or 18% of net sales, compared with an
operating loss of US$26.5 million in the first quarter 2009.
EBITDA in the first
quarter 2010 was US$384.8 million, or 23% of net sales, compared with US$95.0
million, or 8% of net sales, in the first quarter 2009.
Net financial
income was US$108.7 million in the first quarter 2010, compared
with net financial expenses of US$187.6 million in the first quarter 2009.
During the first quarter 2010, Ternium's net interest expenses totaled US$14.8
million, a decrease of US$7.8 million compared to the first quarter 2009, due to
lower indebtedness.
Net
foreign exchange result was a gain of US$101.0 million in the first quarter 2010
compared to a loss of US$160.5 million in the same period in 2009. The first
quarter 2010 gain was primarily due to the impact of the Mexican Peso's 5%
revaluation on Ternium's Mexican subsidiary US dollar denominated debt. This
result is non-cash when measured in US dollars and is offset by changes in
Ternium's net equity position in the currency translation adjustments line, as
the value of Ternium Mexico's US dollar denominated debt is not altered by the
Mexican Peso's fluctuation when stated in US dollars in Ternium's consolidated
financial statements. In accordance with IFRS, Ternium Mexico prepares its
financial statements in Mexican Pesos and registers foreign exchange results on
its net non-Mexican Pesos positions when the Mexican Peso revaluates or
devaluates relative to other currencies.
Income tax expense for the
first quarter 2010 was US$156.8 million, compared with an income tax benefit of
US$96.5 million in the same period in 2009. The first quarter 2009 result
included a gain of US$35.4 million due to a favorable resolution on a
tax-related dispute in Mexico.
Income attributable to minority
interest for the first quarter 2010 was US$39.9 million, compared to a
loss attributable to minority interest of US$23.8 million in the first quarter
2009.
Cash Flow and Liquidity
Net cash
provided by operating activities in the first quarter 2010 was US$313.2 million,
compared to US$409.3 million in net cash provided by operating activities in the
first quarter 2009. While operating income was US$320.0 million higher in the
first quarter 2010 than in the first quarter 2009, there was a US$371.3 million
reduction in working capital in the first quarter 2009 compared with a small
increase in the first quarter 2010. The increase in working capital in the first
quarter 2010 resulted mainly from an increase in sales volume and prices that
turned into higher trade receivables and accounts payable, while inventories
remained relatively stable. In the first quarter 2009, working capital decreased
mainly as a result of an inventory reduction program put in place as a result of
the economic downturn.
Capital
expenditures in the first quarter 2010 were US$54.5 million, compared to US$68.3
million in the first quarter 2009. Capital expenditures during the first quarter
2010 were mainly related to the relining of a blast furnace and a new slitting
line in Argentina and the upgrading of two rolling mills in Mexico.
In the
first quarter 2010, Ternium had a positive free cash flow(4) of US$258.6 million
compared to positive free cash flow(4) of US$341.0 million in the first quarter
2009. In addition, proceeds from the transfer of shares of Sidor to Venezuela
totaled US$300.2 million in the first quarter 2010.
Ternium's
net repayment of borrowings in the first quarter 2010 was US$289.0 million,
mostly related to scheduled payments of the company's Mexican subsidiary
outstanding debt. As of March 31, 2010, Ternium's financial debt was US$2.0
billion, while the company's cash and cash equivalents totaled US$2.4
billion.
Forward-Looking Statements
Some of the statements contained in this press release are
"forward-looking statements." Forward-looking statements are based on
management's current views and assumptions and involve known and unknown risks
that could cause actual results, performance or events to differ materially from
those expressed or implied by those statements. These risks include but are not
limited to risks arising from uncertainties as to gross domestic product,
related market demand, global production capacity, tariffs, cyclicality in the
industries that purchase steel products and other factors beyond Ternium's
control.
About Ternium
Ternium
is a leading steel company in Latin America, manufacturing and processing a wide
range of flat and long steel products for customers active in the construction,
home appliances, capital goods, container, food, energy and automotive
industries. With its principal operations in Mexico and Argentina, Ternium
serves markets in the Americas through its integrated manufacturing system and
extensive distribution network. The Company has an annual production capacity of
approximately nine million tons of finished steel products. More information
about Ternium is available at www.ternium.com.
(1)
EBITDA in the first quarter 2010 equals operating income of US$293.5 million
plus depreciation and amortization of US$91.3 million.
(2) Each
American Depositary Share (ADS) represents 10 shares of Ternium's common stock.
Results are based on a weighted average number of shares of common stock
outstanding of 2,004,743,442.
(3) Free
cash flow in the first quarter 2010 equals net cash provided by operations of
US$313.2 million less capital expenditures of US$54.5 million.
(4) Free
cash flow in the first quarter 2010 equals net cash provided by continuing
operations of US$313.2 million less capital expenditures of US$54.5 million,
while free cash flow in the first quarter 2009 equals net cash provided by
continuing operations of US$409.3 million less capital expenditures of US$68.3
million.
Consolidated
income statement
Consolidated
income statement
|
US$ million
|
1Q 2010 | 1Q 2009 |
Dif.
|
|||||||||
|
Net
sales
|
1,650.6 | 1,174.7 | 475.9 | |||||||||
|
Cost
of sales
|
(1,213.6 | ) | (1,044.6 | ) | (169.1 | ) | ||||||
|
Gross
profit
|
437.0 | 130.1 | 306.9 | |||||||||
|
Selling,
general and administrative expenses
|
(144.3 | ) | (136.2 | ) | (8.1 | ) | ||||||
|
Other
operating income (expenses), net
|
0.9 | (20.4 | ) | 21.3 | ||||||||
|
Operating
income (loss)
|
293.5 | (26.5 | ) | 320.0 | ||||||||
|
Interest
expense
|
(18.9 | ) | (27.7 | ) | 8.8 | |||||||
|
Interest
income
|
4.1 | 5.1 | (1.0 | ) | ||||||||
|
Interest
income - Sidor financial asset
|
27.2 | - | 27.2 | |||||||||
|
Other
financial income (expenses), net
|
96.2 | (165.0 | ) | 261.2 | ||||||||
|
Equity
in (losses) earnings of associated companies
|
(0.2 | ) | 0.5 | (0.8 | ) | |||||||
|
Income
(Loss) before income tax expense
|
401.9 | (213.6 | ) | 615.5 | ||||||||
|
Income
tax (expense) Benefit
|
(156.8 | ) | 96.5 | (253.4 | ) | |||||||
|
Net
income (loss) for the period
|
245.1 | (117.0 | ) | 362.1 | ||||||||
|
Attributable
to:
|
||||||||||||
|
Equity
holders of the Company
|
205.2 | (93.2 | ) | 298.4 | ||||||||
|
Minority
interest
|
39.9 | (23.8 | ) | 63.7 | ||||||||
| 245.1 | (117.0 | ) | 362.1 | |||||||||
Consolidated
balance sheet
|
US$ million
|
March
31, 2010
|
December
31, 2009
|
||||||
|
Property,
plant and equipment, net
|
4,116.1
|
4,040.4
|
||||||
|
Intangible
assets, net
|
1,121.7
|
1,085.4
|
||||||
|
Investment
in associated companies
|
6.3
|
6.6
|
||||||
|
Other
investments, net
|
37.2
|
16.4
|
||||||
|
Receivables,
net
|
77.9
|
101.3
|
||||||
|
Total
non-current assets
|
5,359.3
|
5,250.1
|
||||||
|
Receivables
|
88.3
|
136.3
|
||||||
|
Derivative
financial instruments
|
0.6
|
1.6
|
||||||
|
Inventories,
net
|
1,378.9
|
1,350.6
|
||||||
|
Trade
receivables, net
|
639.6
|
437.8
|
||||||
|
Sidor
financial asset
|
691.4
|
964.4
|
||||||
|
Other
investments
|
6.7
|
46.8
|
||||||
|
Cash
and cash equivalents
|
2,387.0
|
2,095.8
|
||||||
|
Total
current assets
|
5,192.4
|
5,033.3
|
||||||
|
Non-current
assets classified as held for sale
|
10.1
|
9.2
|
||||||
|
Total
assets
|
10,561.8
|
10,292.7
|
||||||
|
Shareholders'
equity
|
5,562.2
|
5,296.3
|
||||||
|
Minority
interest in subsidiaries
|
1,002.5
|
964.9
|
||||||
|
Minority
interest & shareholders' equity
|
6,564.7
|
6,261.2
|
||||||
|
Provisions
|
19.1
|
18.9
|
||||||
|
Deferred
income tax
|
900.2
|
857.3
|
||||||
|
Other
liabilities
|
191.5
|
176.6
|
||||||
|
Derivative
financial instruments
|
26.2
|
32.6
|
||||||
|
Borrowings
|
1,534.8
|
1,787.2
|
||||||
|
Total
non-current liabilities
|
2,671.8
|
2,872.7
|
||||||
|
Current
tax liabilities
|
176.1
|
103.2
|
||||||
|
Other
liabilities
|
78.7
|
57.0
|
||||||
|
Trade
payables
|
523.3
|
413.0
|
||||||
|
Derivative
financial instruments
|
41.3
|
46.1
|
||||||
|
Borrowings
|
505.8
|
539.5
|
||||||
|
Total
current liabilities
|
1,325.2
|
1,158.8
|
||||||
|
Total
liabilities
|
3,997.1
|
4,031.4
|
||||||
|
Total
liabilities, minority interest & shareholders' equity
|
10,561.8
|
10,292.7
|
||||||
Consolidated
cash flow statement
|
US$ million
|
1Q 2010 | 1Q 2009 |
Dif.
|
|||||||||
|
Net
income (loss) for the period
|
245.1 | (117.0 | ) | 362.1 | ||||||||
|
Adjustments
for:
|
||||||||||||
|
Depreciation
and amortization
|
91.3 | 94.4 | (3.2 | ) | ||||||||
|
Equity
in earnings of associated companies
|
0.2 | (0.5 | ) | 0.8 | ||||||||
|
Changes
in provisions
|
2.0 | (1.2 | ) | 3.1 | ||||||||
|
Net
foreign exchange results and others
|
(82.4 | ) | 173.7 | (256.1 | ) | |||||||
|
Interest
accruals less payments
|
(9.6 | ) | 9.7 | (19.3 | ) | |||||||
|
Interest
income - Sidor financial asset
|
(27.2 | ) | - | (27.2 | ) | |||||||
|
Income
tax accruals less payments
|
116.8 | (148.0 | ) | 264.8 | ||||||||
|
Impairment
charge
|
- | 27.0 | (27.0 | ) | ||||||||
|
Changes
in working capital
|
(23.0 | ) | 371.3 | (394.3 | ) | |||||||
|
Net
cash provided by operating activities
|
313.2 | 409.3 | (96.1 | ) | ||||||||
|
Capital
expenditures
|
(54.5 | ) | (68.3 | ) | 13.8 | |||||||
|
Proceeds
from sale of property, plant & equipment
|
0.7 | 0.3 | 0.3 | |||||||||
|
Acquisition
of business
|
- | (0.2 | ) | 0.2 | ||||||||
|
Decrease
(Increase) in Other Investments
|
19.6 | (0.9 | ) | 20.5 | ||||||||
|
Proceeds
from Sidor financial asset
|
300.2 | - | 300.2 | |||||||||
|
Net
cash provided by (used in) investing activities
|
266.0 | (69.0 | ) | 335.0 | ||||||||
|
Proceeds
from borrowings
|
1.4 | 74.2 | (72.8 | ) | ||||||||
|
Repayment
of borrowings
|
(290.5 | ) | (395.9 | ) | 105.4 | |||||||
|
Net
cash used in financing activities
|
(289.0 | ) | (321.7 | ) | 32.7 | |||||||
|
Increase
in cash and cash equivalents
|
290.1 | 18.6 | 271.5 | |||||||||
|
Shipments
|
||||||||||||
|
Thousand tons
|
1Q 2010 | 1Q 2009 | 4Q 2009 | |||||||||
|
South
& Central America
|
628.5 | 363.7 | 602.0 | |||||||||
|
North
America
|
990.8 | 704.0 | 772.3 | |||||||||
|
Europe
& other
|
12.6 | 170.9 | 13.4 | |||||||||
|
Total
flat products
|
1,631.9 | 1,238.5 | 1,387.6 | |||||||||
|
South
& Central America
|
56.7 | 23.1 | 37.5 | |||||||||
|
North
America
|
218.8 | 239.4 | 226.5 | |||||||||
|
Europe
& other
|
0.7 | 3.0 | 3.1 | |||||||||
|
Total
long products
|
276.2 | 265.5 | 267.0 | |||||||||
|
Total
flat and long products
|
1,908.1 | 1,504.1 | 1,654.6 | |||||||||
|
Revenue
/ ton
|
||||||||||||
|
US$/ton
|
1Q 2010 | 1Q 2009 | 4Q 2009 | |||||||||
|
South
& Central America
|
931 | 984 | 909 | |||||||||
|
North
America
|
843 | 775 | 798 | |||||||||
|
Europe
& other
|
559 | 546 | 482 | |||||||||
|
Total
flat products
|
874 | 805 | 843 | |||||||||
|
South
& Central America
|
498 | 493 | 533 | |||||||||
|
North
America
|
658 | 563 | 550 | |||||||||
|
Europe
& other
|
540 | 666 | 500 | |||||||||
|
Total
long products
|
625 | 558 | 547 | |||||||||
|
Total
flat and long products
|
838 | 761 | 795 | |||||||||
|
Net
Sales
|
||||||||||||
|
US$ million
|
1Q 2010 | 1Q 2009 | 4Q 2009 | |||||||||
|
South
& Central America
|
585.3 | 358.0 | 546.9 | |||||||||
|
North
America
|
834.8 | 545.6 | 616.4 | |||||||||
|
Europe
& other
|
7.1 | 93.3 | 6.5 | |||||||||
|
Total
flat products
|
1,427.1 | 996.8 | 1,169.8 | |||||||||
|
South
& Central America
|
28.2 | 11.4 | 20.0 | |||||||||
|
North
America
|
144.1 | 134.8 | 124.6 | |||||||||
|
Europe
& other
|
0.4 | 2.0 | 1.5 | |||||||||
|
Total
long products
|
172.7 | 148.2 | 146.1 | |||||||||
|
Total
flat and long products
|
1,599.7 | 1,145.0 | 1,315.9 | |||||||||
|
Other
products
(1)
|
50.9 | 29.7 | 49.3 | |||||||||
|
Total
net sales
|
1,650.6 | 1,174.7 | 1,365.2 | |||||||||
|
(1)
Primarily includes iron ore, pig iron and pre-engineered metal
buildings.
|
||||||||||||
Sebastián
Martí
Ternium -
Investor Relations
+1 (866)
890 0443
+54 (11)
4018 2389
www.ternium.com