Brazil-based steel producer Gerdau SA has reported its financial results for the fourth quarter and the full year of 2013.
In the fourth quarter, the net profit of the company was R$492 million ($208.9 million), rising from R$143 million in the corresponding quarter of 2012. In the whole year, Gerdau registered a net profit of R$1.7 billion ($721.9 million), up 13.2 percent year on year. The net sales of Gerdau amounted to R$10.3 billion ($4.37 billion) in the fourth quarter, increasing by 14.8 percent, while they increased by five percent to R$39.8 billion ($16.9 billion) in 2013, both year on year.
Gerdau produced 4.44 million mt of crude steel in the fourth quarter, up 6.2 percent year on year. The company's crude steel output in 2013 amounted to 18 million mt, falling 4.8 percent compared to the previous year. Meanwhile, fourth quarter sales amounted to 4.55 million mt, rising by 5.5 percent year on year. In the given quarter, the Brazilian operations' shipments to the domestic market grew driven by strong demand, especially in the infrastructure and commercial construction sectors. On the other hand, exports were reduced due to weak demand in the international markets and global overcapacity. In 2013, the company's sales amounted to 18.5 million mt, down by a slight margin of 0.4 percent year on year.