Brazil-based steel producer Gerdau SA has reported its financial results for the second quarter and the first half of 2012.
In the second quarter, the net profit of the company was R$549 million ($267.8 million), up nine percent compared to the corresponding quarter of 2011. In the first half of the current year, Gerdau registered a net profit of R$946 million ($461.4 million), up four percent year on year. The net sales of Gerdau amounted to R$9.97 billion ($4.86 billion) in the second quarter, increasing by 11 percent, while they increased 10 percent to R$19.17 billion ($9.34 billion) in the first half, both year on year.
Regarding crude steel output, Gerdau registered a two percent year-on-year decrease in the second quarter. The company's crude steel output was 5.04 million mt in the given quarter, while it increased by one percent year on year to 9.98 million mt in the first six months of the current year. Meanwhile, second quarter sales amounted to 4.77 million mt, decreasing by two percent, while the sales in January-June were 9.5 million mt, down one percent, both year on year.