The Brazilian subsidiary of steelmaking group ArcelorMittal posted a BRL 803 million ($257 million) net profit in the full year of 2016, the company announced this week.
According to ArcelorMittal Brazil, it reverted a net loss of BRL 1.8 billion ($580 million) in 2015 to post a BRL 803 million net profit in 2016, attributed to increased sales in the export market and a stronger USD over the BRL in the period.
Net revenues in 2016 totaled BRL 9.7 million ($3.11 million), down from BRL 10 million ($3.2 million) in 2015. Steel production volume was maintained at 10.1 million mt in 2016, same level seen in 2015.
ArcelorMittal Brazil’s consolidated EBITDA in 2016 declined to BRL 2.3 billion ($740 million), from BRL 2.5 billion ($800 million) in 2015. EBITDA margin rose to 14 percent in 2016, from 12 percent in 2015.
1 USD = BRL 3.12 (March 29)