Overview
- Ternium posted 2025 net profit of $303 million, up 74% year over year, as net sales fell 12% to $15.609 billion and adjusted EBITDA declined 24% to $1.541 billion for a 9.9% margin.
- The year’s results included a $405 million write-down of deferred tax assets at Usiminas and a $117 million increase in the related litigation provision after Ternium bought remaining Nippon Steel and Mitsubishi stakes for about $315.2 million in November.
- In the fourth quarter, net profit was $171 million and net sales were $3.775 billion, both lower than a year earlier.
- Management guides to higher adjusted EBITDA in the first quarter of 2026 on stronger sales in Mexico and higher realized prices per ton in Mexico and Brazil.
- Ternium cites export diversion from China as a key risk, notes Brazil’s recent actions against unfair imports, and says Argentina’s low defenses leave the local steel chain exposed as Ternium Argentina sold 1.9 million tonnes in 2025 on domestic strength with exports roughly halved.