Camilla Barter's questions to Ternium SA (TX) leadership • Q3 2024
Question
Camilla Barter asked for an estimate for CapEx in 2025, the cost outlook for Q4 and 2025, and expectations for free cash flow in the coming quarter.
Answer
CEO Maximo Vedoya stated that 2025 CapEx is expected to be around $2.3 billion, a record high for the company. CFO Pablo Brizzio added that costs are expected to decline as higher-priced inventories are used. He anticipates positive operating cash flow, though overall free cash flow will be impacted by the significant CapEx, and noted that the Q3 working capital increase was a one-off event.