Brazil-based Gerdau group posted a consolidated net profit of BRL 3.022 billion ($584 million) for the third quarter of 2022, against BRL 4.298 billion achieved in the previous quarter.
Net sales declined by 7.9 percent to BRL 21.149 billion and EBITDA declined by 19.6 percent to BRL 5.389 billion.
By volume, the production of crude steel declined by 13.5 percent to 2.965 million mt, while sales of steel products declined by 9.7 percent to 2.930 million mt.
In terms of business divisions of the group, during Q3 Brazil was responsible for 39.0 percent of the group’s net sales and 29.2 percent of its EBITDA, while North America had respectively 36.0 percent and 48.2 percent, South America had 9.0 percent and 10.8 percent and the specialty steel business division had 16.0 percent and 11.8 percent.
USD = BRL 5.16 (November 9)