The Brazilian arm of ArcelorMittal announced a consolidated net profit of BRL 2.579 billion ($457 million) for 2024, against BRL 4.146 billion for 2023.
Net sales revenues declined by 4.68 percent to BRL 66.55 billion, the gross profit declined by 8.60 percent to BRL 9.025 billion, and the operational profit declined by 6.11 percent to BRL 7.086 billion.
In volume, the production of steel products, including the units in Brazil, Argentina, and Costa Rica, increased by 3.8 percent to 15.3 million mt, while sales increased by 5.2 percent to 15.1 million mt, of which 55.5 percent in the domestic markets and 44.5 percent exported.
According to the company, the reduced profit reflects increased financial expenses, chiefly the negative impact of the exchange rate variation on its controlled Acindar in Argentina, and interests paid by the controlling company.
$= BRL 5.64 (April 29)