Gerdau posts higher revenues in Q1 amid higher shipments

Wednesday, 05 May 2021 17:12:10 (GMT+3)   |   Istanbul

Brazilian integrated steelmaker Gerdau has announced its financial and operational results for the first quarter of the current year.

The company registered a net profit of BRL 2.47 billion ($454.89 million) compared to a net profit of BRL 221 million recorded in the same period of the previous year. The company’s net revenues in the first quarter this year rose 77 percent year on year and 20 percent quarter on quarter to BRL 16.34 billion ($3.01 billion) amid higher shipments and the appreciation of the US dollar against the Brazilian real.

Meanwhile, in the first quarter this year, Gerdau’s adjusted EBITDA was BRL 4.31 billion ($796.11 million), up by 41 percent quarter on quarter.

In the given quarter, the company produced 3.15 million mt of crude steel down by one percent year on year and falling by seven percent quarter on quarter, due to planned maintenance. Gerdau’s steel sales volume in the first quarter totaled 3.08 million mt, up by 15 percent year on year amid the recovery in key consumer sectors, while it decreased by four percent compared to the previous quarter due to lower exports from Brazil.       

Similar articles

Argentinian crude steel production declines in December

25 Jan | Steel News

Acciaierie d’Italia to unveils production targets for 2023 and 2024

25 Jan | Steel News

German crude steel output down 8.4 percent in 2022

24 Jan | Steel News

US raw steel production up 1.1 percent week-on-week

23 Jan | Steel News

Japanese crude steel output down 3.8 percent in Dec from Nov

23 Jan | Steel News

ArcelorMittal Kryvyi Rih’s output drops in 2022 due to impact of war

20 Jan | Steel News

Brazilian steel production and sales decline in December

19 Jan | Steel News

Italian crude steel production down 11.5 percent in 2022

18 Jan | Steel News

US raw steel production up 0.4 percent week-on-week

17 Jan | Steel News

China’s crude steel output decreases by 2.1 percent in 2022

17 Jan | Steel News