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Net profit increases in the first quarter at Gerdau

Thursday, 04 May 2023 22:20:19 (GMT+3)   |   Sao Paulo
       

Brazil’s Gerdau group posted a consolidated net profit of BRL 2.39 billion ($479 million) for the first quarter of 2023, against BRL 1.33 billion achieved in the previous quarter.

Under the same comparative basis, net sales revenues increased by 5.1 percent to BRL 18.97 billion and the EBITDA increased by 19.1 percent to BRL 4.32 billion.

By volume, the production of crude steel increased by 4.2 percent to 2.99 million mt, while sales of steel products increased by 11.5 percent to 2.98 million mt.

In terms of business divisions of the group, Brazil was responsible for 37.8 percent of the group’s net sales and 24.2 percent of its EBITDA, while North America had respectively 35.8 percent and 53.5 percent, South America had 8.6 percent and 11.1 percent and the specialty steels business division had 18.0 percent and 11.3 percent.

USD = BRL 4.99 (May 4)


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