Brazil’s Usiminas turns to profit in Q2

Friday, 26 July 2019 18:43:36 (GMT+3)   |   Sao Paulo

Brazilian flats steelmaker Usiminas went from a net loss of BRL 19 million ($5.03 million) in Q2 2018 and posted a net profit of BRL 171 million ($45.3 million) in Q2 2019, the company said on Friday while announcing its Q2 results.

Net revenue in Q2 was BRL 3.6 billion ($978.19 million), 15 percent up, year-on-year. Usiminas said steel sales volumes in Q2 reached 1.05 million mt, 8 percent up, year-on-year.

Usiminas said iron ore sales volumes improved 28 percent in Q2, year-on-year, to 1.77 million mt.

The company said EBITDA in Q2 was BRL 570 million ($150.8 million), 15 percent up, year-on-year. EBITDA margin in Q2 slightly declined from 16 percent in Q2 2018 to 15 percent in Q2 2019.

USD = BRL 3.77 (July 26)

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