Brazilian integrated steelmaker Gerdau saw its net profit in Q1 slightly improve 1 percent, year-on-year, to BRL 453 million ($115.2 million), the company said on Wednesday while releasing its quarterly results. Net revenues in Q1 reached BRL 10.02 billion ($2.5 billion), 3.5 percent down, year-on-year.
The company’s crude steel production in Q1 dropped 19.7 percent, year-on-year, to 3.34 million mt, while steel sales volumes in the same period totaled 2.98 million mt, 22.9 percent down, year-on-year, from Q1 2018.
Gerdau posted a gross margin of 12.7 percent in Q1, relatively stable from a 12.9 percent gross margin in Q1 2018.
Gerdau’s adjusted EBITDA in Q1 was BRL 1.55 billion ($394.7 million), 4.6 percent up, year-on-year, while adjusted EBITDA margin in the same period reached 15.5 percent, up from 14.3 percent in Q1 2018.
USD = BRL 3.93 (May 8)