Usiminas Q4 earnings nearly double on improved flat steel, iron ore performance

Brazilian flat steel and iron ore producer Usiminas’ earnings nearly doubled in the fourth quarter of 2017 on an annual basis, amid increased shipments and higher sales prices.

The company’s adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) totaled 450 million Reais ($137.3 million), against 234 million Reais a year before, the company announced on Friday February 9. The firm’s net revenues grew 45.28% year on year in October-December 2017, to 3.08 billion Reais from 2.12 billion Reais. Net revenues in Usiminas’s steel unit was 2.78 billion Reais in the fourth quarter, against 1.96 billion...

Published

Ana Paula Camargo

February 09, 2018

13:10 GMT

São Paulo