Brazil’s leading steelmaker Gerdau has posted a consolidated net profit of BRL 3.022 billion (USD 584 million) for the third quarter of 2022, against BRL 4.298 billion achieved in the previous quarter. Net sales declined by 7.9% QoQ to BRL 21.149 billion and EBITDA declined by 19.6% BRL 5.389 billion. The result reflects the high levels of demand for steel in the construction and industrial sectors in North America. The Operation's Ebitda in the region reached BRL 2.6 billion, with an adjusted Ebitda margin of 32.9%, both historical records for a third quarter. The production of crude steel declined by 13.5% to 2.965 million tonnes, while sales of steel products declined by 9.7% to 2.930 million tonnesBrazil – 39.0% share in saleNorth America – 36.0%South America – 9.0% YoYSpecialty Steel Business – 16% During the third quarter of 2022, Gerdau invested BRL 1.1 billion, of which BRL 654 million in maintenance and BRL 402 million in expansion and technological updating initiatives. Of the total invested in the period, R$ 190 million includes expansion of forestry assets, updating and improvement of environmental controls, technological improvements that result in energy efficiency and reduction of greenhouse gas emissions. As a highlight, Gerdau recently started operations of the new continuous casting of blocks and billets at the Pindamonhangaba (SP) plant, an investment of R$ 700 million. The equipment will allow the company to have a more automated process with better metallic yield, resulting in the delivery of differentiated products and an even higher level of quality for demanding markets. The unit's technological update is in line with future prospects for increasing the array of electric and hybrid vehicles in Brazil.