Shipments totaled 19.2 million tonnes, a 10% increase compared to 2010, reflecting the development of the industry and the energy segment in the North American business operations, as well as the civil construction segment in the Latin America and Brazil business operations.

In 2011, consolidated net sales totaled BRL 35.4 billion, a 13% increase compared to 2010, due to the increase in shipments. The 2011 EBITDA reached BRL 4.7 billion, despite the significant increase in raw material costs, which affected the Company's operational results.

Consolidated net income totaled BRL 2.1 billion in 2011. Based on such results, the payment of BRL 597 million in dividends and interest on capital stock was deliberated to the shareholders of Gerdau SA and BRL 224 million to the shareholders of Metalurgica Gerdau SA.

Based on the investment plan announced at the beginning of the 2011 fiscal year, for the period between 2011 and 2015, BRL 2.0 billion were completed, with emphasis on investments targeting Usina Acominas. For the next five years (2012-2016) the Company is planning investments of about BRL 10.3 billion, including maintenance and capacity expansions.

In April 2011, the company performed a public offering, with proceeds of BRL 3.6 billion. Of this amount, BRL 2.1 billion have already been used for the prepayment of loans contracted by the Company's subsidiaries in North America and the remaining amount was incorporated to the cash position.