Brazilian holding company Votorantim SA, which owns steel producers Acerbrag in Argentina and Acerias Paz del Rio in Colombia, posted increased revenues for its long steel business in the two countries, SteelOrbis has learned.
The company, which used to report the results of its long steel business in detail, has now included the segment into the company’s consolidated results. The long steel business reported revenues of BRL 765 million ($145.8 million) in Q1 this year, 76.2 percent up, year-over-year.
Gross profit for both Acerbrag and Acerias Paz del Rio in Q1 reached BRL 168 million ($32 million), 147 percent up, year-over-year. Votorantim said EBITDA at its long steel business in Q1 grew 58.8 percent, year-over-year, to BRL 135 million ($25.7 million).
USD = BRL 5.24 (May 27)