Chemicals firm Mexichem reported a 1.2 percent rise in sales in the third quarter 2015.
Only three of the 25 companies in Latin Trade’s Multilatina Index posted positive results: Mexichem (16th in our ranking, in terms of sales) and CMPC (18th), each by 1.2 percent, and Arcor (22nd), by 0.1 percent.
By David Ramirez
The total revenue of the 25 multilatinas in our index went to $94.6bn in the July-September period, thus driving the index 25 percent down in year-on- year terms.
The result is due to multiple adversities such as the depreciation of the region’s currencies against the US dollar, the drastic plunge in the prices of oil and other commodities, and sluggish growth in key economies, most prominently in Brazil.
Mexichem’s sales benefited in the quarter from a mix of factors, including the significant pick-up of activity in one of its subsidiaries in Europe, the effect of previous acquisitions, and dynamism in its vinyl division.
Chile-based CMPC’s revenues were helped by the 28 percent increase in pulp traded. Argentinean confectionary Grupo Arcor grew due to strong sales in its home country, which compensated for lower activity in other countries where it is present.
Only seven out of 25 companies experienced an above the average index reduction. The majority of them were from Brazil, and were led by Petrobras (1st), CSN (21st), Natura (25th), Gerdau (10th), Brasil Foods (13th), and Vale (4th). The underperformance of this group of multilatinas is largely explained by the weakening of the real, in tandem with poor …
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