Brazil-based steel producer Gerdau SA has reported its financial results for the fourth quarter and the full year of 2014, posting a net profit of R$393 million ($132.2 million) for the fourth quarter, down 29.1 percent year on year, while Gerdau's net sales increased by 5.1 percent year on year to R$10.84 billion ($3.6 billion).
In 2014, Gerdau's net profit decreased by 12.2 percent R$1.5 billion ($504.4 million), compared to the previous year. The company registered a year-on-year increase of 6.7 percent in sales revenues, amounting to R$42.5 billion ($14.3 billion).
In the given year, Gerdau produced 18.02 million mt of crude steel, up 0.1 percent year on year, while its finished steel shipments in the period in question amounted to 17.87 million mt, falling by 3.5 percent year on year.