Gerdau’s profit surges to $1 billion in Q3

Wednesday, 27 October 2021 20:15:28 (GMT+3)   |   Sao Paulo

Brazilian integrated steelmaker Gerdau saw its net profit in Q3 this year surge 604 percent, year-over-year, to BRL 5.59 billion ($1 billion).

Gerdau said net revenues in Q3 this year rose 74 percent, year-over-year, to BRL 21.31 billion ($3.8 billion). Gross margin in Q3 improved to 30.1 percent, from 13.9 percent in Q3 2020.

The steelmaker said crude steel output in Q3 this year increased 7 percent, year-over-year, to 3.41 million mt. Steel sales volumes in Q3 grew 2 percent, year-over-year, to 3.25 million mt.

Adjusted EBITDA in Q3 was BRL 7.02 billion ($1.25 billion), 228 percent up, year-over-year. Adjusted EBITDA margin in Q3 this year rose to 32.9 percent, from 17.5 percent in Q3 2020.

USD = BRL 5.58 (October 27)

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