Gerdau’s Peruvian subsidiary sees profit spike in Q4 2020

Thursday, 18 February 2021 21:40:18 (GMT+3)   |   Sao Paulo

Siderperu, a Peruvian subsidiary owned by Gerdau, saw its net profit in Q4 2020 surge by 136.9 percent, year-over-year, to PEN 35.4 million ($9.6 million), the company said.

Net revenues in Q4 2020 totaled PEN 514 million ($140.6 million), 25.4 percent up, year-over-year. Siderperu attributed the increase revenues to a strong demand post-Covid-19, despite a 70-day halt due to a nationwide lockdown in Peru.

The company’s gross margin in Q4 2020 rose to 22.4 percent, from 9.9 percent in the same quarter of 2019. Siderperu said gross profit in Q4 2020 was PEN 115 million ($31.7 million), 184.9 percent up, year-over-year.

USD = PEN 3.65 (February 18)

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