Gerdau's Siderperu registered a of PEN 204.7 million ($65.2 million) net loss in 2014, according to company’s information. The result is higher than the PEN 1.9 million ($615,585) net loss registered a year ago.
In the 2014 fiscal year, ended December 31, 2014, Siderperu’s sales dropped 7.5 percent to PEN 1.61 billion, while exports fell 87.3 percent to PEN 10.1 million in 2014.
Siderperu’s fourth quarter (Q4) net loss was PEN 221 million ($71.6 million), compared to the PEN 11.5 million ($3.7 million) profit registered in the same quarter of the previous year.
Sales and administrative costs in Q4 jumped 24.8 percent, while sales fell 7.4 percent to PEN 417 million ($137 million) from PEN 450 million ($145.7 million).