Usiminas returns to profit in Q2

Friday, 30 July 2021 18:52:25 (GMT+3)   |   Sao Paulo
       

Brazilian flats steelmaker Usiminas went from a net loss of BRL 395 million ($76.9 million) in Q2 2020 to post a net profit of BRL 4.54 billion ($884.5 million), the company said this week while releasing its quarterly results.

Usiminas said the net profit it reported in Q2 this year was the company’s biggest quarterly profit it has ever reported. Net revenues in Q2 this year spiked 296 percent, year-over-year, to BRL 9.59 billion ($1.87 billion). Steel sales volumes in Q2 this year rose 116 percent, year-over-year, to 1.31 million mt. Iron ore sales volumes in Q2 totaled 2.05 million mt, 8 percent up, year-over-year.

Adjusted EBITDA totaled BRL 5.06 billion ($987.2 million), up from BRL 192 million ($37.3 million). Adjusted EBITDA margin in Q2 was 53 percent, up from 8 percent in Q2 2020.

USD = BRL 5.15 (July 30)


Similar articles

Usiminas posts a lower net profit for 2023

09 Feb | Steel News

Usiminas posts $33 million net loss for Q3

30 Oct | Steel News

Usiminas posts lower profit for Q2

31 Jul | Steel News

Usiminas posts net loss for the fourth quarter of 2022

10 Feb | Steel News

Net profit declines at Usiminas during the third quarter

28 Oct | Steel News

Net profit declines at Usiminas during the second quarter

01 Aug | Steel News

Usiminas posts lower net profit for Q1

21 Apr | Steel News

Usiminas sees net profit rise 30 percent in Q4 2021

11 Feb | Steel News

CSN, Gerdau and Usiminas to post weaker profits in Q4

13 Jan | Steel News

Usiminas sees profit surge in Q3

29 Oct | Steel News