Usiminas turns to profit in Q4

Tuesday, 19 February 2019 22:28:22 (GMT+3)   |   Sao Paulo

Brazilian flats steelmaker Usiminas went from a net loss of BRL 45 million in Q4 2017 to a net profit of BRL 401 million in Q4 2018, the company said on Friday while releasing its Q4 results. Net revenues in Q4 reached BRL 3.4 billion, 11.3 percent up, year-on-year.

Steel sales volumes in Q4 2018 dropped 5.8 percent, year-on-year, to 1.02 million mt. Iron ore sales volumes in Q4 slightly improved 0.9 percent, year-on-year, to BRL 1.5 million mt.

Usiminas said adjusted EBITDA in Q4 was BRL 830 million, nearly 85 percent up, year-on-year. Adjusted EBITDA margin in Q4 was 24 percent, up from 15 percent in the same quarter of the year prior.

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