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)


Most Recent Related Articles

Gerdau expects to maintain high profit margins in 2022

ArcelorMittal Brazil supplying steel to local soccer arena

Tenaris sees revenues in Q3 increase for its South American division

ArcelorMittal posts higher operating income in Brazil in Q3

Gerdau’s Siderperu posts increased net profit in Q3