Brazilian integrated steelmaker Gerdau reverted an adjusted net loss of BRL 34 million ($9.5 million) in Q1 2017 and posted an adjusted net profit of BRL 451 million ($127 million) in Q1 this year, the company said this week while releasing its quarterly results.
Gerdau uses two metrics for measuring its net profit: the adjusted net profit and net profit, which reached BRL 448 million ($126 million) in Q1.
Gerdau said net revenues in Q1 rose 22.8 percent, year-on-year, to BRL 10.3 billion ($2.9 billion). Steel sales volumes in Q1 reached 3.8 million mt, nearly 8 percent up, year-on-year.
The steelmaker’s crude steel output in Q1 was 4.1 million mt, 3.7 percent up, year-on-year.
Gerdau said its gross margin in Q1 improved to 12.9 percent from 7.7 percent in the same quarter of the year prior.
The company’s adjusted EBITDA in Q1 was BRL 1.4 billion ($394.2 million), 74 percent up, year-on-year, while EBITDA margin increased to 14.3 percent in the same period from 10.1 percent in Q1 2017.
USD = BRL 3.55 (May 11)