Siderperu, the Peruvian subsidiary of Brazil-based integrated steelmaker Gerdau, said net profit in Q2 fell to PEN 21.3 million ($6.3 million), from PEN 25.7 million ($7.6 million) in Q2 2018.
Net revenues in Q2 slightly increased 0.4 percent, year-on-year, to PEN 373.4 million ($110.3 million), due to higher steel sales volumes. Gross margin in Q2 reached 10.9 percent, down from 14.2 percent in the same quarter of the year prior. EBITDA in Q2 decreased 9.3 percent, year-on-year, to PEN 49 million ($14.4 million), due to lower revenues per mt sold.
Siderperu said its EBITDA margin in Q2 dropped to 13.2 percent, from 14.5 percent in Q2 2018.
USD = PEN 3.38 (August 9)