Brazilian integrated steelmaker Gerdau saw its net profit in Q2 this year surge to BRL 698 million ($185.2 million) from BRL 75 million ($19.9 million) in Q2 2017, the company said on Wednesday while releasing its quarterly results. Net revenues in Q2 grew 31.3 percent, year-on-year, to BRL 12 billion ($3.1 billion).
Crude steel production in Q2 dropped 2.5 percent, year-on-year, to 3.98 million mt, while steel sales volumes in the same period rose 3.4 percent, year-on-year, to 3.83 million mt.
Gross profit in Q2 increased 75.5 percent, year-on-year, to BRL 1.6 billion ($436.2 million). Gross margin improved to 13.7 percent in Q2, from 10.2 percent in the same quarter of the year prior. Gerdau’s adjusted EBITDA in Q2 reached BRL 1.7 billion ($465.9 million), 56.8 percent up, year-on-year
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