Brazilian integrated steelmaker Gerdau said on Wednesday net profit in Q4 2019 declined 73.8 percent, year-on-year, to BRL 102 million ($23.3 million). Net revenues in Q4 totaled BRL 9.5 billion ($2.1 billion), 12.5 percent down, year-on-year, on declining crude steel and steel sales volumes.
Gerdau said crude steel output in Q4 was 2.9 million mt, 8.4 percent down, year-on-year, while steel sales volumes in the same period fell 2.8 percent, year-on-year, to 3 million mt.
Gerdau reported in Q4 a gross profit of BRL 676 million ($154.6 million), 48.2 percent down, year-on-year. Gross margin in Q4 declined to 7.1 percent, from 12 percent in Q4 2018.
Adjusted EBITDA in Q4 dropped 19.4 percent, year-on-year, to BRL 1.13 billion ($258.9 million). Adjusted EBITDA margin in Q4 reduced to 11.9 percent, from 12.9 percent in Q4 2018.
USD = BRL 4.37 (February 19)