Gerdau Records Highest Ever EBITDA in Apr-Jun 2021 Quarter
Gerdau ended the second quarter of 2021 with an adjusted Ebitda of BRL 5.9 billion, a historic record, and an adjusted Ebitda margin of 30.8%. The result reflects the strong demand for steel in all the markets in which the company operates, especially the robust performance of the construction and industrial sectors in North America and Brazil. The adjusted Ebitda of the North America Business Operation, for example, evolved significantly in the quarter, to BRL 1.4 billion, reaching an adjusted Ebitda margin of 20.4%. Gerdau's net income, adjusted for non-recurring effects, totaled BRL 3.4 billion in the second quarter of 2021, also a historic record. The company's net revenue, in turn, reached BRL 19.1 billion between April and June, with physical sales of steel reaching 3.2 million tonnes, an increase of 36% in the annual comparison.
Gerdau CEO Mr Gustavo Werneck said “Gerdau recorded, in the period between April and June, the highest quarterly adjusted Ebitda in the historical series, totaling BRL 5.9 billion, due to the good performance of the steel sector in all the countries in which we operate and the opportunities captured by the teams in this scenario.”
Gerdau signed a cooperation agreement with Shell Brasil for the development of a photovoltaic park in the municipality of Brasilândia de Minas, north of Minas Gerais. With an installed capacity of 190MW, the Aquarii park will supply part of the clean energy to Gerdau's steel production units and another part to be traded on the free market through Shell's energy trader, as of 2024. The joint venture, which will have equal participation by the two companies, is part of the company's energy transition and decarbonization strategy.