Brazilian longs producer Aço Verde Brasil (AVB) posted a net profit of BRL 542.5 million ($105 million) for 2022, 0.2 percent less than in 2021.
Under the same comparative basis, net sales revenues increased by 36.4 percent to BRL 1.89 billion, while the EBITDA increased by 6.8 percent to BRL 804.1 million and the EBITDA margin declined by 10.6 percentage points to 42.54 percent.
By volume, sales of rolled products increased by 36.4 percent to 352,300 mt.
According to AVB’s financial director Gustavo Bcheche, the net profit decline reflects chiefly production costs, mostly iron ore and charcoal, increasing by 52.8 percent, while the average price of the products sold increased by 9 percent.
Located in Açailandia, in the northeastern state of Maranhão, AVD has a 600,000 mt yearly production capacity, with a production line including wire rod, rebar, billets and pig iron.
USD = BRL 5.17 (March 28)