Usiminas sees profit surge in Q3

Friday, 29 October 2021 20:26:08 (GMT+3)   |   Sao Paulo
       

Brazilian flats steelmaker Usiminas said on Friday that net profit in Q3 this year surged 821 percent, year-over-year, to BRL 1.82 billion ($323.4 million). Net revenues in Q3 increased 106 percent, year-over-year, to BRL 9.02 billion ($1.6 billion).

Steel sales volumes in Q3 this year totaled 1.18 million mt, 27 percent up, year-over-year. Iron ore sales volumes in Q3 grew 5 percent, year-over-year, to 2.41 million mt.

Usiminas said adjusted EBITDA in Q3 this year spiked 249 percent, year-over-year, to BRL 2.88 billion ($512.1 million). Adjusted EBITDA margin in Q3 rose to 32 percent, from 19 percent in Q3 2020.

USD = BRL 5.64 (October 29)


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