Brazilian integrated steelmaker Gerdau managed to reduce its net loss in Q4 2017 to BRL 1.4 billion ($431.7 million) from a net loss of BRL 3.1 billion ($956 million) in the same quarter of 2016, the company said on Wednesday while releasing its quarterly results.
Gerdau said net revenues in Q4 rose nearly 14 percent, year-on-year, to BRL 9.8 billion ($3.02 billion), due to increased net revenues per metric ton at all business units, especially in Brazil.
Gerdau said crude steel production in Q4 increased 18.7 percent, year-on-year, to 3.9 million mt, due to a higher use of the company’s installed capacity and fewer scheduled maintenances.
The company’s steel sales volumes in the last quarter of the year declined 0.7 percent, year-on-year, to 3.8 million mt.
Gerdau’s adjusted EBITDA in Q4 was BRL 1.1 billion ($363.3 million), 65 percent up, year-on-year, while EBITDA margin improved to 12 percent in Q4, from 8.3 percent in Q4 2016.
USD = BRL 3.24 (February 28)