Brazil-based Gerdau group has announced its financial and operational results for the third quarter and the first nine months of this year.
In the third quarter, the company posted a consolidated net profit of BRL 1.59 billion ($325.64 million), declining by 25.7 percent compared to the previous quarter and by 47.3 percent year on year, while its net sales revenues decreased by 6.6 percent quarter on quarter and by 19.3 percent year on year to BRL 17.06 billion ($3.50 billion).
In the given period, the company’s EBITDA came to BRL 3.35 billion ($686.17 million), down by 11.7 percent from the second quarter and by 37.6 percent from the third quarter of 2022, while its EBITDA margin was 19.6 percent compared to 20.8 percent in the previous quarter and 25.4 percent in the same quarter of last year.
In the January-September period this year, Gerdau’s consolidated net profit declined by 40.3 percent year on year to BRL 6.12 billion ($1.25 billion), while its net sales revenues amounted to BRL 54.20 billion ($11.10 billion), moving down by 15.9 percent year on year.
In the first nine months of the year, the company’s EBITDA fell by 35.9 percent compared to the same period of last year to BRL 11.46 billion ($2.35 billion), while its EBITDA margin came to 21.2 percent from 27.7 percent recorded in the first nine months of 2022.
Gerdau’s crude steel production in the third quarter stood at 2.80 million mt, declining by nine percent quarter on quarter and 5.5 percent year on year, while its steel sales decreased by 6.1 percent from the second quarter and six percent year on year to 2.76 million mt.
In the January-September period, the company’s crude steel production moved down by 9.5 percent year on year to 8.87 million mt, while its steel sales amounted to 8.67 million compared to 9.23 million mt in the same period of last year.