First quarter of 2026 vs first quarter of 2025.
Net SalesNet sales increased 3% because of the combination of 11% increase in shipments of finished steel products and a 7% lower average sales prices compared to the same period of 2025, the sales increased from Ps. 7,783 million in the three-month period ended March 31, 2025 to Ps. 8,032 million in the same period of 2026. Shipments of finished steel products increased to 530 thousand tons in the three-month period ended March 31, 2026 compared to 476 thousand tons in the same period of 2025. Total sales outside of Mexico on the three-month period ended March 31, 2026 decreased 2% to Ps. 3,385 million compared with Ps. 3,469 million in the same period of 2025. Total sales in Mexico increased 8% from Ps. 4,314 million in the three-month period ended March 31, 2025 to Ps. 4,647 million in the same period of 2026.
Cost of SalesCost of sales increased 2% from Ps. 5,786 million in the three-month period ended March 31, 2025 to Ps. 5,897 million in the same period of 2026. Cost of sales as a percentage of net sales represented 73% and 74% respectively, for the periods 2026 and 2025. The average cost of finished steel produced in the three-month period ended March 31, 2026 compared to the same period of 2025 decreased 8%.
Gross ProfitGross profit of the Company in the three-month period ended March 31, 2026 was of Ps. 2,135 million compared to Ps. 1,997 million in the same period of 2025. Gross profit as a percentage of net sales represented 27% and 26% respectively, for the periods 2026 and 2025.
Selling, General and Administrative ExpensesSelling, general and administrative expenses increased 12% from Ps. 633 million in the three-month period ended March 31, 2025 to Ps. 709 million in the same period of 2026. Selling, general and administrative expenses as a percentage of net sales represented 8% during the three-month period ended March 31, 2025 and 9% in the same period of 2026.
Other Expenses (Income) net The company recorded other net income of Ps. 62 million in the three-month period ended March 31, 2025 compared to other net income of Ps. 39 million in the same period of 2026.
Operating ProfitOperating income increased 3% from Ps. 1,426 million for the three-month period ended March 31, 2025 to Ps. 1,465 million in the same period of 2026. Operating profit as a percentage of net sales represented 18% for both the periods 2026 and 2025.
EBITDAThe EBITDA of the Company increased 4% from Ps. 1,692 million in the three-month period ended March 31, of 2025, (result of net income of Ps. 1,305, less minority stake of Ps. 1 million, plus income taxes of Ps. 179 million, less comprehensive financial income of Ps. 57 million, plus depreciation of Ps. 266 million), to an EBITDA of Ps. 1,754 million in the same period of 2026 (result of net income of Ps. 1,706 million, plus income taxes of Ps. 71 million, less comprehensive financial income of Ps. 312 million, plus depreciation of 289 million).
Consolidated
Million
Three-month period ended March 31,
2026
2025
Net income (loss) controlling interest
1,706
1,305
Income (loss) attributable to noncontrolling interests
0
(1)
Net income (loss)
1,706
1,304
Depreciation and amortization
289
266
Income taxes
71
179
Financial results (income) loss
(312)
(57)
EBITDA
1,754
1,692
Comprehensive Financial Income (Cost)Comprehensive financial income in the three-month period ended March 31, 2026 represented a net income of Ps. 312 million compared with a net income of Ps. 57 million in the same period of 2025. The net interest was an income of Ps. 99 million in 2026 compared with a net interest income of Ps. 213 million in the three-month period ended ...
