Brazilian steelmaker AVB eyes increased revenues in 2021

Friday, 22 October 2021 21:48:34 (GMT+3)   |   Sao Paulo
       

Brazilian steelmaker Aço Verde do Brasil (AVB), which is part of the Ferroeste Group, expects to double its revenues this year to BRL 2 billion ($350.8 million), according to a media report by Valor.

As for 2022, the company expects to increase net revenues to BRL 3 billion ($526 million). The company is currently operating at half its capacity. AVB should produce 300,000 mt of steel this year, and the company expects to reach an output level of 600,000 mt by 2025.

As for H1 this year, AVB reported revenues of BRL 865.9 million ($151.8 million), 138 percent up, year-over-year, according to Valor. EBITDA in H1 2021 was BRL 400.8 million ($70.3 million), 265 percent up, year-over-year.

The company has launched its first debt bond, the CRA, which is an agriculture-linked receivable bond, of about BRL 250 million ($43.8 million). The company plans to use the proceeds of the bond for working capital to help it buy raw materials and to pay debt.


Most Recent Related Articles

ArcelorMittal Brazil supplying steel to local soccer arena

Tenaris sees revenues in Q3 increase for its South American division

Brazilian ferroalloys producer Ferbasa sees profit rise in Q3

ArcelorMittal posts higher operating income in Brazil in Q3

Anglo American Brazil investing over $803 million in Minas Gerais state