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Gerdau’s net profit declines in Q2

Wednesday, 09 August 2023 23:33:48 (GMT+3)   |   Sao Paulo
       

Brazil-based Gerdau group posted a consolidated net profit of BRL 2.14 billion ($436 million) for Q2 2023, against BRL 2.39 billion in the previous quarter.

Under the same comparative basis, net sales revenues declined by 3.2 percent to BRL 18.27 billion and EBITDA increased by 13.2 percent to BRL 3.79 billion.

By volume, production of crude steel increased by 3.0 percent to 3.08 million mt, while sales of steel products declined by 1.5 percent to 2.93 million mt.

In terms of the business divisions of the group, Brazil was responsible for 44.3 percent of the group’s net sales and 25.7 percent of its EBITDA, while North America had respectively 32.4 percent and 46.1 percent, South America had 10.6 percent and 12.5 percent and the specialty steels business division had 12.6 percent and 15.7 percent.

USD = BRL 4.91 (August 9)


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