Brazilian steel and iron ore producer Usiminas posted a net loss of BRL 839 million ($160 million) for Q4 2022, against a net profit of BRL 609 million for the previous quarter.
According to the company, the net loss reflects an impairment of BRL 1.7 billion in its steel production assets and the reversion of an impairment of its mining assets of BRL 293 million, resulting in a negative net effect of BRL 1.4 billion during Q4.
During Q4, net sales revenues reached BRL 7.66 billion, the cost of goods sold reached BRL 6.89 billion and the gross profit reached BRL 773 million.
In volume, steel sales in Q4 reached 963,000 mt and iron ore sales reached 2.40 million mt.
For the total of 2022, net sales revenues reached BRL 32.5 billion, the EBITDA reached BRL 4.9 billion and the net profit reached BRL 2.1 billion, all three indicators ranking second highest during the last 14 years.
During 2022, Usiminas sold 4.2 million mt of steel products and 8.6 million mt of iron ore.