Siderperu, the Peruvian subsidiary of Brazilian integrated steelmaker Gerdau, saw its net profit in Q1 this year rise 219.5 percent, year-over-year, to PEN 96.6 million ($25.9 million), the company said this week.
Revenues in Q1 this year reached PEN 505 million ($135.2 million), 62.1 percent up, year-over-year, due to a nation-wide lockdown in Peru announced in March 2020, which forced the company to provisionally halt operations.
The company reported a gross profit of PEN 152 million ($40.7 million) in Q1 this year, 385 percent up, year-over-year. Gross margin in Q1 this year also improved to 30.1 percent, up from 10 percent in Q1 2020.
Siderperu said EBITDA in Q1 was PEN 159 million ($42.5 million), 341.6 percent up, year-over-year. EBITDA margin in Q1 rose to 31.5 percent, from 11.6 percent in Q1 2020.
USD = PEN 3.73 (May 18)