Brazil-based steel producer Gerdau SA has reported its financial results for the third quarter and the first nine months of 2012.
In the third quarter, the net profit of the company was R$408 million ($201 million), down 43 percent compared to the corresponding quarter of 2011. In the first nine months of the current year, Gerdau registered a net profit of R$1.35 billion ($666.7 million), down 17 percent year on year. The net sales of Gerdau amounted to R$9.81 billion ($4.83 billion) in the third quarter, increasing by 10 percent, while they increased 10 percent to R$29 billion ($14.3 billion) in January-September, both year on year.
Regarding crude steel output, Gerdau registered a five percent year-on-year decrease in the third quarter. The company's crude steel output was 4.74 million mt in the given quarter, while it decreased by one percent year on year to 14.73 million mt in the first nine months of the current year. Meanwhile, third quarter sales amounted to 4.77 million mt, decreasing by two percent, while sales in January-September were 14.27 million mt, down one percent, both year on year.