Risk Factors Update Summary

• Deferred tax assets increased significantly from $3,917 to $6,674, a $2,757 increase.
• Capital expenditures rose from $53.8 million to $87.3 million, mainly due to property acquisitions.
• Expanded product offerings to include aluminum profiles, rods, bars, plates, and hardware. This diversification may increase revenue streams significantly.
• Insider Trading Policy expanded to include restrictions on short-term trading and publicly-traded options.
• The Colombian Peso appreciated by 20.5% against the Dollar during 2023.
• Acquired 30% equity interest in ESMetals, enhancing steel accessory supply. This acquisition may boost production capacity.
• Policy now requires pre-clearance for certain transactions by the Chief Executive Officer and securities counsel.
• Deferred tax liabilities decreased from $22 to $8, a $14 decrease.
• Net income increased significantly from $156,412 to $183,510, a change of $27,098.
• The Company acquired the remaining 30% equity interest in ESMetals for $5.8 million.
• Basic income per share increased from $3.28 to $3.85, a change of $0.57.
• Clawback Policy introduced to recoup excess Incentive Compensation due to financial restatements.
• Increased gross profit margin to 46.9% in 2023 from 48.8% in 2022. This slight decrease may impact overall profitability.
• Trade accounts receivable increased from $38.5 million to $76.0 million in investing activities.
• Long term deferred income tax liability decreased from $5,190 to $3,417, a $1,773 decrease.
• A voluntary prepayment of $15.2 million was made to repurchase shares under a credit facility.
• Operating expenses improved to 15.7% of sales in 2023 from 17.2% in 2022. This efficiency enhancement may positively impact financial performance.
• Dividends paid increased from $44.8 million to $42.8 million during the years ended December 31, 2023 and 2022.
• Net deferred tax increased from $4 to $15, a $11 increase.
• Total comprehensive income rose from $118,976 to $243,834, a change of $124,858.
• Total shareholders' equity increased from $350.3 million to $548.0 million.
• Interest Rate Swap contract amended from Libor 1 Month to SOFR 3 Months.
• Operating revenue rose by $116.7 million to $833.3 million in 2023 from $716.6 million in 2022. This significant increase may indicate strong market demand.
• Other comprehensive income increased from $37,436 to $60,324, a change of $22,888.
• Sales to Latin American markets increased by $10 million to $38.2 million in 2023 from $28.2 million in 2022. This growth may indicate market expansion.
• Quarterly dividend increased by 22% from $0.09 to $0.11 per share.
• Dividend per share changed from $0.15 to $0.28.
• Sales to related parties increased from $1,835 to $2,386, a $551 increase.
• Long-term debt decreased from $188,355 to $163,004, a change of $25,351.
• Cash and cash equivalents increased to approximately $129.5 million in 2023 from $103.7 million in 2022. This improved liquidity position may support future investments.
• Deferred income tax decreased from $5,484 to $8,346, a change of $2,138.