The Brazilian arm of ArcelorMittal has achieved a net profit of BRL 12.8 billion ($2.54 billion) for 2021, 940 percent higher than in 2020, an all-time record for the company, ascribing the performance to the increased demand in the civil construction, industry, automotive, electricity, machinery and equipment sectors.
Net revenues increased by 109 percent to $69 billion, while the EBITDA increased by 297 percent to BRL 20.2 billion.
By volume, sales of steel products increased by 23 percent to 12.5 million mt, while sales of iron ore were relatively stable at 1.6 million mt. Domestic sales accounted for 59 percent of the sales total, with the balance of 41 percent destined to export.
The results of ArcelorMittal Brazil include the operations of Acindar, in Argentina, Unicon, in Venezuela and ArcelorMittal Costa Rica.
The company confirmed investments of $1.51 billion over the next three years to increase the production capacity of its steel plants of Joao Monlevade, Barra Mansa and Vega, and at its Serra Azul iron ore mine.