Welcome to our dedicated page for Grupo Simec news (Ticker: SIM), a resource for investors and traders seeking the latest updates and insights on Grupo Simec stock.
Grupo Simec, S.A.B. de C.V. (NYSE: SIM) regularly publishes detailed financial and operational updates that are made available to investors through press releases and SEC filings. This news page aggregates those communications so readers can review how the company’s business as a manufacturer, processor and distributor of SBQ steel and structural steel products is evolving over time in Mexico, Brazil and in its commercial activities in the United States.
The company’s news flow frequently includes reports on quarterly and annual results, such as net sales, shipments of finished steel products, cost of sales, gross profit, operating income, EBITDA, comprehensive financial cost or income, income taxes and net income. These releases often distinguish between sales in Mexico and sales outside Mexico, and discuss trends in average sales prices and average cost per ton of steel products, including the impact of input costs like steel scrap.
Investors can also find announcements related to Form 20‑F filings and amendments, where Grupo Simec explains updates to disclosures on controls and procedures and internal control over financial reporting. In addition, the company has used news releases to report significant operational events, such as the spill of liquid steel at a plant in Apizaco, Tlaxcala, which resulted in loss of life and temporarily halted operations at that facility.
By following this news page, readers can monitor how shipment volumes, pricing, input costs, financial results and notable incidents are described by the company in its own communications. The articles collected here provide a chronological view of Grupo Simec’s publicly reported performance and key events affecting SIM stock.
Grupo Simec (NYSE: SIM) reported a strong performance for the twelve-month period ending December 31, 2021, with net sales increasing by 55% to Ps. 55,622 million compared to Ps. 35,869 million in 2020. The growth was attributed to higher shipments and a 51% rise in average sales prices. Gross profit surged 133% to Ps. 15,498 million, while net income skyrocketed 246% to Ps. 10,227 million. Despite these impressive gains, fourth-quarter sales dipped 9% sequentially, reflecting challenges in the market.
Grupo Simec reported impressive results for the nine months ending September 30, 2021, with net sales surging 66% to Ps. 42,736 million, up from Ps. 25,739 million in 2020. Sales outside of Mexico soared 64%, while domestic sales rose 68%. Gross profit skyrocketed by 144% to Ps. 11,913 million, driven by a 56% increase in average selling prices and a 6% rise in shipment volumes. Net income climbed 139% to Ps. 8,290 million, and operating income jumped 174% to Ps. 10,371 million. However, costs also increased significantly, with expenses and costs rising substantially compared to the previous year.
Grupo Simec reported robust financial results for the first half of 2021, with net sales soaring 78% to Ps. 28,613 million, driven by a significant 18% increase in shipments to 1,369 thousand tons. Gross profit surged 164% to Ps. 7,704 million, raising the gross profit margin from 18% to 27%. Operating income also jumped 202% to Ps. 6,690 million. However, comprehensive financial costs shifted from a gain of Ps. 1,193 million in 2020 to an expense of Ps. 81 million in 2021, reflecting a challenging financial environment.
On July 8, 2021, Grupo Simec reported unusual trading movements in shares identified by the ticker symbol SIM (NYSE: SIM; NYSE-MKT: SIM; Mexico: SIMECB). The company stated that it is unaware of any factors causing these movements, attributing them to market conditions. Additionally, it confirmed that board members, executive officers, or repurchase funds were not involved in these unusual trading activities.
The issuer of SIMEC shares (ticker: SIM) reported unusual movements in share operations on June 14, 2021. The company stated that they are unaware of any specific causes for these fluctuations and attribute them to market conditions. Additionally, there has been no involvement from board members, executive officers, or the repurchase fund in these movements. The report aims to clarify the situation surrounding the unusual trading activity.
Grupo Simec, S.A.B. de C.V. (NYSE-MKT:SIM) announced the filing of its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission for the year ended December 31, 2020. The report includes the company’s audited financial statements, which are also accessible via their investor relations website. Grupo Simec is a leading manufacturer and distributor of SBQ and structural steel products, operating in Mexico, the U.S., and Brazil. Their steel products serve various industries, including automotive and construction.
Grupo Simec, S.A.B. de C.V. (NYSE-MKT: SIM) announced it failed to timely file its Annual Report on Form 20-F for the fiscal year ending December 31, 2020. As a result, the NYSE issued a noncompliance notice on May 18, 2021. The company cited delays in preparing financial reports due to COVID-19 impacts and plans to file the Form 20-F by May 24, 2021, although this date is uncertain. Grupo Simec has six months from May 18 to comply with NYSE requirements to maintain listing status.
Grupo Simec reports unusual trading activity in shares under the ticker SIMEC. The company states that they are unaware of any specific causes behind these movements, attributing them to general market conditions. Furthermore, there is no indication that members of the board or executive officers are involved in these unusual operations. The company aims to clarify that this situation does not stem from any internal corporate actions or decisions.
On May 10, 2021, Grupo Simec reported unusual trading activity for its shares identified by the ticker symbol SIM. The company clarified that it is unaware of any specific factors causing these movements, attributing them to market conditions. Furthermore, the organization confirmed that there is no involvement from its board members, executive officers, or repurchase funds concerning these unusual operations.
Grupo Simec reported its operational results for the year ending December 31, 2020. Net sales rose by 5% to Ps. 35,869 million driven by a 4% increase in finished steel shipments. Cost of sales decreased by 3%, leading to a 62% growth in gross profit, totaling Ps. 6,658 million. Operating income soared 123% to Ps. 5,185 million, while EBITDA surged 93% to Ps. 6,637 million. Net income reached Ps. 2,957 million compared to a loss of Ps. 1,636 million in 2019. Comprehensive financial costs improved, and liquidity remained stable.
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