Brazil-based Votorantim SA said net revenues in full-year 2019 for its long steel businesses in Argentina and Colombia rose 1 percent, year-on-year, to BRL 2.1 billion ($420.7 million). The company attributed the increased revenues to higher selling prices in Argentina.
EBITDA at its long steel business segment was BRL 456 million ($89.9 million), 19 percent up, year-on-year.
Votorantim said Argentina, as a separate business, saw net revenues in full-year 2019 grow 5 percent, year-on-year, due to higher steel selling prices. In Colombia, revenues in full-year 2019 increased 2 percent, year-on-year.
Votorantim owns Acerbrag in Argentina and Aceros Paz del Rio in Colombia.
USD = BRL 5.07 (March 27)