Brazilian flats producer Usiminas sees profit spike in Q4

Friday, 12 February 2021 19:17:36 (GMT+3)   |   Sao Paulo
       

Brazilian flats steelmaker Usiminas said net profit in Q4 2020 spiked 613 percent, year-over-year, to BRL 1.91 billion ($355.7 million), according to quarterly results released Friday.

Usiminas said net revenues in Q4 2020 rose 41 percent, year-over-year, to BRL 5.47 billion ($1.01 billion). The flats producer said the figure is the company’s highest-ever quarterly revenue level.

According to Usiminas, steel sales volumes in Q4 2020 grew 12 percent, year-over-year, to 1.13 million mt. Iron ore sales volumes in Q4 2020 totaled 2.27 million mt, 9 percent down, year-over-year.

The company said adjusted EBITDA in Q4 2020 was BRL 1.60 billion ($298.9 million), 243 percent up, year-over-year. Adjusted EBITDA margin in Q4 2020 reached 29 percent, from 12 percent in Q4 2019.

USD = BRL 5.37 (February 12)


Similar articles

Brazil increases import tax for some steel products

24 Apr | Steel News

Brazil to set import quotas for 11 steel product categories

24 Apr | Steel News

Brazilian high-grade iron ore price declines week-on-week

23 Apr | Scrap & Raw Materials

Usiminas posts lower net profit for Q1 2024

23 Apr | Steel News

CRC import price offers increase in Brazil

23 Apr | Flats and Slab

Brazil’s DEV Mineração to resume operations at Amapá iron ore project

22 Apr | Steel News

Vale's iron ore exports up 97.5 percent in January

19 Apr | Steel News

Auto industry confirms massive investment in Brazil

18 Apr | Steel News

Brazilian rebar export price remains stable

18 Apr | Longs and Billet

Brazilian BPI mills target higher export prices, impact of scrap eases as discussed at IIMA meeting

18 Apr | Scrap & Raw Materials