Brazilian integrated steelmaker Gerdau said on Thursday its net profit in Q4 2021 rose 237 percent, year-over-year, to BRL 3.56 billion ($692.8 million).
Gerdau's quarterly net profit was a record result for the company in a Q4, fueled by increased EBITDA. Adjusted EBITDA in Q4 2021 was BRL 5.98 billion ($1.16 billion), 96 percent up, year-over-year. Adjusted EBITDA margin in Q4 2021 rose to 27.8 percent, from 22.4 percent in Q4 2020.
Net revenues in Q4 2021 grew 58 percent, year-over-year, to BRL 21.5 billion ($4.19 billion). Gerdau attributed the stronger revenues to higher steel prices globally and to the contribution of its North American business, along with the US dollar currency, to the company’s results in Brazilian Reais (BRL).
Gerdau’s crude steel output in Q4 2021 fell 3 percent, year-over-year, to 3.2 million mt. Steel sales volumes in Q4 2021 dropped 2 percent, year-over-year, to 3.1 million mt.
USD = BRL 5.14 (February 24)