Brazilian integrated steelmaker Gerdau went from a BRL 1.38 billion net loss in Q4 2017 to post a BRL 389 million net profit in Q4 2018, the company said while releasing its quarterly results. Net revenues in Q4 reached BRL 10.9 billion, 11 percent up, year-on-year.
Crude steel output in Q4 was 3.2 million mt, 18.4 percent down, year-on-year. Steel sales volumes in Q4 dropped 16.1 percent, year-on-year, to 3.16 million mt.
Gerdau’s gross profit in Q4 rose 25.4 percent, year-on-year, to BRL 1.30 billion. Gross profit margin in Q4 increased to 12 percent, from 10.6 percent in the same quarter of the year prior. Gerdau’s adjusted EBITDA in Q4 improved 18.9 percent, year-on-year, to BRL 1.40 billion.
As for the full year of 2018, Gerdau posted a net profit of BRL 2.3 billion, up from a net loss of BRL 339 million in 2017.