Ternium S.A. (NYSE: TX) today announced its results for the second quarter and first half ended June 30, 2023.

The financial and operational information contained in this press release is based on Ternium S.A.'s operational data and consolidated condensed interim financial statements prepared in accordance with IAS 34 'Interim financial reporting' (IFRS) and presented in US dollars ($) and metric tons. This press release includes certain non-IFRS alternative performance measures such as Adjusted EBITDA, Net Cash and Free Cash Flow.

Outlook

Excluding the impact of the consolidation of Usiminas on Ternium's financial results, Ternium expects third quarter EBITDA to decrease compared to the second quarter, with higher shipments partially offset by a lower EBITDA margin that will result from a decrease in international prices and slightly higher cost per ton. In Mexico, the company anticipates higher sequential shipments in the third quarter, driven by continued strength in the automotive and white-goods industrial sectors.

In addition, Mexico's commercial market remains stable, with no significant accumulation of inventories in the commercial value chain. In Argentina, Ternium expects shipments in the third quarter to remain at the same level as in the second quarter. However, the company anticipates that high inflation, constraints to imports of raw materials, the significantly unstable macroeconomic environment and upcoming election-related uncertainty would negatively impact domestic steel market activity and demand in the second half of 2023.

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 Latin America's leading flat steel producer, with operating facilities in Mexico, Brazil, Argentina, Colombia, the southern United States and Central America. The company offers a broad range of high value-added steel products for customers active in the automotive, home appliances, HVAC, construction, capital goods, container, food and energy industries through its manufacturing facilities, service center and distribution networks, and advanced customer integration systems. More information about Ternium is available at www.ternium.com.

Contact:

Tel: +1 (866) 890 0443

(C) 2023 Electronic News Publishing, source ENP Newswire