Revenue per ton in the first quarter of 2023 was $1,159, stable sequentially as higher spot steel prices in Mexico were offset by the lagged effect of contract steel prices, which reset at lower levels during the first quarter, and by lower realized prices in the Southern Region. On a year-over-year basis, shipments in other markets decreased 42% in the first quarter of 2023, due to lower sales of steel products to finished steel customers and lower shipments of slabs to third parties. In other markets, shipments decreased 18% sequentially mainly reflecting lower sales of slabs to third parties, as Ternium's Brazilian slab facility further integrated to the company's industrial system. On a year-over-year basis, shipments in the first quarter of 2023 decreased 7% primarily as a result of lower volumes in other countries in the Southern Region, as the company reduced exports from Argentina. Shipments in the Southern Region were down 8% sequentially in the first quarter of 2023, mainly reflecting seasonally lower activity in Argentina. In the commercial market, a restocking trend in the value chain kept contributing to a higher apparent demand for steel products. Automotive manufacturing continued recovering at a solid pace, supported by pent-up demand and a better supply chain performance. Demand from Mexican industrial and commercial customers strengthened in the period. Shipments in Mexico increased 10% sequentially and 31% year-over-year to 2.1 million tons, a new record high, as the company kept gaining share in the Mexican market. Ternium's steel shipmentsin the first quarter of 2023 were 3.1 million tons, up 1% sequentially and 4% over the prior-year first quarter. Net cash position of $3.0 billion at the end of March 2023, compared to $2.6 billion at the end of December 2022.
#Depreciation of patient statement of cashflows free#
Net cash provided by operating activities of $612.3 million and free cash flow of $414.4 million, after capital expenditures of $197.9 million.Equity holders' net income of $374.4 million, equivalent to earnings per ADS of $1.91.Adjusted EBITDA of $508.0 million on steel shipments of 3.1 million tons, with adjusted EBITDA margin of 14% and adjusted EBITDA per ton of $166.Results are based on a weighted average number of shares of common stock outstanding (net of treasury shares) of 1,963,076,776. Each ADS represents 10 shares of Ternium's common stock.
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