Siderperu, the Peruvian subsidiary of Brazil-based integrated steelmaker Gerdau, said net profit in Q4 was PEN 15 million ($4.4 million), down from PEN 34 million ($10 million) in the same quarter of 2018. The company attributed the reduced net profit to a weaker operating income and a currency loss in USD.
Net revenues in Q4 fell 3.4 percent, year-on-year, to PEN 409 million ($120.6 million). Gross profit in Q4 was PEN 40 million ($11.7 million), 28.5 percent down, year-on-year. Gross margin diminished to 9.8 percent in Q4, from 13.3 percent in Q4 2018.
EBITDA in Q4 reached PEN 49 million ($14.4 million), down from PEN 55 million ($16.2 million) in the same quarter of the year prior. EBITDA margin dropped to 11.8 percent in Q4, from 13 percent in Q4 2018.
USD = PEN 3.39 (February 20)