The Brazilian steel and iron ore producer, Usiminas, posted a net profit of BRL 184.6 million ($32.4 million) for Q3 2024, reversing a net loss of BRL 99.7 million in Q2 2024.
On a comparative basis, net sales revenue increased by 7 percent to BRL 6.817 billion, with domestic sales increasing by 10 percent to BRL 5.87 billion and exports declining by 7 percent to BRL 948.5 million.
With production costs increasing by 6 percent to BRL 6.403 billion, the gross profit increased by 26 percent to BRL 413.6 million, while the operational profit reached BRL 151.2 million, up from a net loss of BRL 27.6 million in Q2 2024.
On a yearly basis, comparing the third quarters of 2024 and 2023, net sales revenues increased by 2 percent, the gross profit increased by 136 percent, the operational profit reversed a net operational loss of BRL 244.7 million, and the net profit reversed a net loss of BRL 165.6 million.
In volume, steel sales increased from the previous quarter by 8 percent to 1.126 million mt, while iron ore sales increased by 14 percent to 2.228 million mt.
On a yearly basis, steel sales increased by 10 percent, while iron ore sales declined by 4 percent.
USD = BRL 5.69 (25 October)
