The Brazilian arm of ArcelorMittal posted a net profit of BRL 9.1 billion ($1.79 billion) for 2022, 33.4 percent less than in 2021.
According to the company, the reduction was expected due to the high base of comparison, when considering the company’s performance in 2021.
Although net sales revenues increased by 3.8 percent to BRL 71.6 billion year-on-year in 2022, EBITDA declined by 26 percent to BRL 14.9 billion. Additionally, sales of steel products declined by 0.9 percent to 12.4 million mt. Domestic market sales comprised 7.4 million mt of total sales, while 5.0 million mt was exported.
The Brazilian arm’s steel production for the year declined by 5.3 percent to 12.7 million mt, while iron ore production declined by 1.4 percent to 3.3 million mt.
The results of ArcelorMittal Brazil also include the operations of Acindar, in Argentina, Unicon, in Venezuela and of ArcelorMittal Costa Rica.
USD = BRL 5.07 (April 25)