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Gerdau Reports Q4 and 2019 Results

Steel News - Published on Fri, 21 Feb 2020

Image Source: dataxstream.com
Gerdau ended the fourth quarter of 2019 with an adjusted EBITDA of BRL 1.1 billion, with a margin of 11.9%. The result excludes non-recurring effects, linked to the impacts of the scheduled shutdowns of Blast Furnace 1 at the Ouro Branco MG plant and other plants in Brazil and tax credits. Gerdau's net income, also adjusted for non-recurring effects, reached BRL 61 million between October and December 2019. Gerdau CEO Mr Werneck said “Regarding Gerdau's performance in the fourth quarter of 2019, I would like to reinforce that we grew above the average of the domestic long and flat steel market in Brazil, with emphasis on the 17% increase in our sales of steel for reinforced concrete, a since the signs of reaction in the civil construction sector in Brazil were confirmed in the period. For 2020, we see optimistic perspectives for our main operating markets, Brazil and the United States, which should generate an increase in demand for steel, which Gerdau is prepared to serve. Last year, we worked hard to strengthen our balance sheet and, now, we have started a new chapter of growth for the company.”

Gerdau ended 2019 with BRL 5.7 billion of adjusted Ebitda, with a 14.4% margin. The company's adjusted net income totaled BRL 1.3 billion. The company's net revenue reached approximately BRL 40 billion last year.

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Posted By : Rabi Wangkhem on Fri, 21 Feb 2020
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