Brazilian flats steelmaker Usiminas saw its net profit surge 280 percent in Q3, year-on-year, to BRL 289 million ($79.1 million), from BRL 76 million in Q3 2017.
Usiminas said net revenues in Q3 totaled BRL 3.8 billion ($1.04 billion), 41.1 percent up, year-on-year, while steel sales volumes in the same period reached 1.1 million mt, slightly up from 1.01 million mt in Q3 2017.
Usiminas said iron ore sales volumes in Q3 rose 99.8 percent up, year-on-year, to 1.7 million mt, from 904,000 mt in the same quarter of the year prior.
The company’s EBITDA in Q3 was BRL 686 million ($187.80 million), nearly 55 percent up, year-on-year. The steelmaker’s EBITDA margin in Q3 improved to 18 percent, from 16 percent in Q3 2017.
USD = BRL 3.65 (October 26)