Ternium S.A. (NYSE:TX) Q1 2024 Earnings Conference Call April 25, 2024 8:30 AM ET
Company Participants
Sebastian Marti - Investor Relations
Maximo Vedoya - Chief Executive Officer
Pablo Brizzio - Chief Financial Officer
Conference Call Participants
Carlos de Alba - Morgan Stanley
Enrique Marquez - Goldman Sachs
Operator
Hello and thank you for standing by. At this time, I would like to welcome everyone to the Ternium First Quarter 2024 Results Conference Call. [Operator Instructions]
I would now like to turn the conference call over to Sebastian Marti. Please go ahead.
Sebastian Marti
Good morning, and thank you for joining us today. My name is Sebastian Marti and I am Ternium's Global IR and Compliance Senior Director. Ternium released yesterday it’s financial results for the first quarter of 2024. 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. At the conclusion of our prepared 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 turn the call over to Mr. Vedoya.
Maximo Vedoya
Thank you, Sebastian. Good morning to everyone, and thank you very much for participating in today's call. Ternium began 2024 with strong performance and a healthy cash flow generation. We delivered good results across all regions despite some macroeconomic challenges in some of them as we will discuss later on.
Our adjusted EBITDA margin reached a recurring level of 17% driven by higher steel crisis and cost efficiency. We also continue showing a strong financial position increasing our net cash to $2 billion as of the end of March. Our operation in Mexico, our main market, continue to show a positive performance nearshoring in North America is intensifying as more manufacturing capacity relocate or expand in the region, driven by advantages of geographical proximity, lower logistic costs and shorter lead times. This strength is a particular favorite for our company, as we have a strong presence and a diversified product portfolio in this market.