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Financial Information by Segments

12 Months Ended

Dec. 31, 2023

Financial Information by Segments [Abstract]

24.

Financial information by segments

The Company analyses its information by region, due to the operational structure and the organization of its business. Information used for making decisions is based on such regions. The Company’s sales are made in Mexico, the United States and Brazil. The Mexican segment includes the plants in Mexicali, Guadalajara, Tlaxcala and San Luis Potosi. The USA segment includes seven Republic plants six of which are located in the United States (Ohio, Indiana and New York) and one in Canada (Ontario). The plant in Canada stopped operating in 2018. The Brazilian segment includes the plants in Pindamonhangaba, Cariacica and Itaúna. The segments are engaged in the manufacturing and sale of long steel products intended mainly for the building and automotive industries.

	Year ended December 31, 2023
	Mexico			USA			Brazil			Eliminations between segments			Total

Net sales	$	24,777,369		$	2,417,219		$	13,944,660		$			$	41,139,248
Cost of sales		(17,937,267	)		(3,398,928	)		(9,763,911	)					(31,100,106	)

Gross profit (loss)		6,840,102			(981,709	)		4,180,749						10,039,142
Administrative expenses		(970,482	)		(291,552	)		(1,055,024	)					(2,317,058	)
Other income (expenses), net		16,319			(309,117	)		173,252						(119,546	)
Interest income and dividends		931,866			82,224			-			(82,224	)		931,866
Interest expense Loss on financial instruments		(89,293	)		(146,592	)		(122,921	)		269,513			(89,293	)
Exchange rate gain (loss), net		(2,430,781	)		(219	)		(181,424	)		181,424			(2,431,000	)

Income (loss) before income taxes		4,297,731			(1,646,965	)		2,994,632			368,713			6,014,111
Income taxes		(1,234,278	)		144,630			(650,350	)					(1,739,998	)

Net income (loss) for the year	$	3,063,453		$	(1,502,335	)	$	2,344,282		$	368,713		$	4,274,113

Depreciation and Amortization	$	618,445		$	155,794		$	261,005					$	1,035,244
Total assets		43,890,081			9,069,596			18,203,408		$	(4,375,473	)		66,787,612

Total liabilities		6,912,766			4,602,653			9,842,201			(4,375,473	)		16,982,147

Acquisitions of property, plant and equipment		210,422			(350,360	)		2,632,611						2,492,673

	Year ended December 31, 2022
	Mexico			USA			Brazil			Eliminations between segments			Total

Net sales	$	30,914,890		$	5,867,193		$	17,377,164		$			$	54,159,247
Cost of sales		(21,575,758	)		(5,764,239	)		(12,343,864	)					(39,683,861	)

Gross profit (loss)		9,339,132			102,954			5,033,300						14,475,386
Administrative expenses		(1,096,330	)		(286,611	)		(1,618,151	)		544,392			(2,456,700	)
Other income (expenses), net		(71,202	)		1,015,586			140,205			(1,012,744	)		71,845
Interest income and dividends		415,704			30,175									445,879
Interest expense		(485	)		(55,867	)		(383,646	)		383,646			(56,352	)
Loss on financial instruments		(778,649	)											(778,649	)
Exchange rate gain (loss), net		(540,770	)		(58	)		(60,625	)		60,625			(540,828	)

Income (loss) before income taxes		7,267,400			806,179			3,111,083			(24,081	)		11,160,581
Income taxes		(2,565,834	)		(88,679	)		(645,009	)					(3,299,522	)

Net income (loss) for the year	$	4,701,566		$	717,500		$	2,466,074		$	(24,081	)	$	7,861,059

Depreciation and Amortization	$	627,078		$	236,601		$	253,193					$	1,116,872
Total assets		44,025,917			12,930,111			14,149,332		$	(3,472,457	)		67,632,903

Total liabilities		8,375,028			7,243,113			7,492,843			(3,472,457	)		19,638,527

Acquisitions of property, plant and equipment		151,783			252,116			1,292,586						1,696,485

	Year ended December 31, 2021
	Mexico			USA			Brazil			Eliminations between segments			Total

Net sales	$	29,678,133		$	8,216,595		$	17,725,628		$			$	55,620,356
Cost of sales		(21,337,462	)		(7,159,354	)		(11,471,370	)					(39,968,186	)

Gross profit (loss)		8,340,671			1,057,241			6,254,258						15,652,170
Administrative expenses		(907,798	)		(256,875	)		(877,969	)					(2,042,642	)
Other income (expenses), net		(77,530	)		454,303			1,793			(455,972	)		(77,406	)
Interest income		65,631			317									65,948
Interest expense		(28,904	)		(61,494	)		(96,486	)		99,439			(87,445	)
Exchange rate gain (loss), net		325,389			(378	)		(120,300	)		120,300			325,011

Income (loss) before income taxes		7,717,459			1,193,114			5,161,296			(236,233	)		13,835,636
Income taxes		(2,472,751	)		(477,380	)		(1,439,638	)					(4,389,769	)

Net income (loss) for the year	$	5,244,708		$	715,734		$	3,721,658		$	(236,233	)	$	9,445,867

Depreciation and amortization	$	667,167		$	270,119		$	237,822					$	1,175,108

Total assets		47,917,643			10,836,083			8,815,051		$	(10,226,205	)		57,342,572

Total liabilities		7,828,384			5,544,135			12,396,190			(10,226,205	)		15,542,504

Acquisitions of property, plant and equipment		367,496			288,487			410,439						1,066,422