Brazilian flats steelmaker Usiminas managed to reduce its net loss in Q4 to BRL 45 million ($13.6 million), from a net loss of BRL 195 million ($58.9 million) in the same quarter of the year prior.
Usiminas said net revenues in Q4 reached BRL 3.07 billion ($930 milion), 45.1 percent up, year-on-year.
Steel sales volumes in Q4 rose to 1.09 million mt, from 891,000 mt in Q4 2016.
Iron ore sales volumes surged 129 percent in Q4, year-on-year, to 1.50 million mt.
Usiminas said EBITDA in Q4 decline to BRL 373 million, from BRL 584 million in Q4 2016. EBITDA margin came to 12 percent in Q4 2017, from 28 percent in Q4 2016.
As for the full year of 2017, Usiminas reported a net profit of BRL 315 million ($95.5 million).
USD = BRL 3.30 (February 9)