Brazil-based steel producer Gerdau SA has reported its financial results for the fourth quarter and the full year 2012.
In the fourth quarter, the net profit of the company was R$142 million ($72 million), down 70 percent compared to the corresponding quarter of 2011. In 2012, Gerdau registered a net profit of R$1.5 billion ($760 million), down 29 percent year on year. The net sales of Gerdau amounted to R$8.99 billion ($4.5 billion) in the fourth quarter, decreasing by 1 percent, while they increased by seven percent to R$37.98 billion ($19.24 billion) in 2012, both year on year.
Gerdau produced 4.8 million mt of crude steel in the fourth quarter, down 12 percent year on year. The company's crude steel output for the full year amounted to 18.91 million mt, decreasing by four percent compared to 2011. Meanwhile, fourth quarter sales amounted to 4.31 million mt, decreasing by eight percent, while sales in 2012 were 18.6 million mt, down three percent, both year on year.
