Steel News

Gerdau's Steel Shipments Grew Quarter-on-Quarter But Down Year-on-Year

8/1/2013 - Brazil-based Gerdau reported that shipments of steel products reached 4.6 million tonnes in the 2Q13, a 3% reduction when compared to 2Q12, however an increase of 1.7% compared to 1Q13.
Net sales reached R$ 9.9 billion in the 2Q13, a slight decrease compared to 2Q12, following the reduction in shipments at various business operations.
2Q13 EBITDA reached R$ 1.196 million, a decrease when compared to R$ 1.244 million in 2Q12, due to the reduction in consolidated gross profit. The EBITDA margin reached 12.1% in the 2Q13, compared to 12.5% recorded in 2Q12. Regarding 1Q13, EBITDA increased 48.6% and the margin EBITDA increased from 8.8% to 12.1%.
Net income totaled R$ 401 million in the 2Q13.
Investments in fixed assets totaled R$ 635 million in the 2Q13.
Net debt was R$ 12.3 billion on June 30, 2013, representing 3.1 times the last twelve months EBITDA.