Ternium S.A. (NYSE:TX) Q4 2022 Earnings Conference Call February 15, 2023 8:00 AM ET
Company Participants
Sebastian Marti - Global IR and Compliance Senior Director
Maximo Vedoya - CEO
Pablo Brizzio - CFO
Conference Call Participants
Caio Greiner - BTG Pactual
Timna Tanners - Wolfe Research
Isabella Vasconcelos - Bradesco BBI
Alfonso Salazar - Scotiabank
Alex Hacking - Citi
Operator
Good morning, my name is Rob and I'll be your conference operator today. At this time. I would like to welcome everyone to the Ternium Fourth Quarter 2022 Earnings Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.
Sebastian Marti, you may begin your conference.
Sebastian Marti
Good morning, thank you for joining us today. My name is Sebastian Marti and I am Ternium's Global Investor Relations and Compliance Senior Director.
Ternium released yesterday its financial results for the fourth quarter and full year 2022 and announced new investment projects. This call is complementary to that presentation.
Joining me today are Ternium's Chief Executive Officer, Maximo Vedoya; and the Company's Chief Financial Officer, Pablo Brizzio, who will discuss Ternium's business environment and performance. After the conclusion with our remarks there will be a Q&A session.
Before we begin, I would like to remind you that this conference call contains forward-looking information and that actual results may vary from those expressed or implied. Factors that could affect results are contained in our filings with the Securities and Exchange Commission and on Page 2, in today's webcast presentation. You will also find any reference to non-IFRS financial measures reconciled to the most directly comparable IFRS measures in the press release issued yesterday.
With that, I'll turn the call over to Mr. Vedoya.
Maximo Vedoya
Thank you, Sebastian, good morning to all and thanks very much for your interest in this conference call.
Ternium had a strong performance in 2022, EBITDA reached $3.4 billion. Net income was $2.1 billion and earnings per ADS were $9. On-top of this very positive results, the company had significant cash generation with free cash flow of $2.2 billion, which increased our net cash position to $2.6 billion.
Considering these good results and Ternium's solid financial position, the company's Board of Directors proposed an annual dividend for 2022 of $2.70 per ADS, equivalent to $530 million. This represent an increase of $0.10 per ADS compared to 2021's annual dividend.