Brazilian steel maker Usiminas announced has recorded a consolidated adjusted EBITDA of BRL 1.9 billion in April-June 2022 quarter, up by 25% QoQ against BRL 1.6 billion in January-March 2022 quarter, with EBITDA margin of 23% as compared to 20% in Q1 of 2022. Usiminas President Mr Alberto Ono said “Always focused on serving the domestic market, Usiminas showed an increase of 9% in sales made in the country, with an improvement in our product mix, and high EBIDTA in both Siderurgia Mineração Usiminas and Soluções Usiminas.” In the second quarter, the highlight was the total steel sales of 1.1 million tonnes, 87% of which were destined for the domestic market and 13% for exports, compared to 76% and 24% in the first three months of the year. Due to exchange losses recorded at the end of the quarter, net income was BRL 1.1 billion, 16% lower than in 1Q22. Exchange losses were partially offset by better operating results. Steel adjusted EBITDA reached BRL 1.5 billion in April-June 2022 quarter, against BRL 1 billion in the first quarter of 2022, an increase of 44% QoQ. The adjusted EBITDA margin was 19% as compared to 15% in Q1 of 2022. The Ipatinga plant recorded crude steel production of 0.671 million tonnes in the second quarter, down 0.9% when compared to the first three months of the year. The production of rolled products at the Ipatinga and Cubatão mills totaled 1.07 million tonnes, down 1.7% QoQ compared to Q1 of 2022. At Mineração Usiminas, production volume reached 2.3 million tonnes, an increase of 35% QoQ when compared to the figures for the first quarter of 2022, representing a recovery in production levels, after a first quarter that was strongly impacted by record rainfall with temporary stoppage of operations in the period. The sales volume of the Mining business unit reached 2.4 million tonnes in April-June 2022, up 48% QoQ At Soluções Usiminas, a company that operates in the steel distribution, services, manufacture and sale of small diameter tubes, net revenue of BRL 2.4 billion was up 13% QoQ. The unit's Adjusted EBITDA stood at BRL 269 million in the second quarter, 301% higher than in the first three months of 2022. The Adjusted EBITDA margin was 11% against 3% in the first quarter. The renovation of Blast Furnace 3 at the Ipatinga Plant has already begun at an investment of around BRL 2 billion. The resumption of Blast Furnace 2 is scheduled for next October, with Capex maintained at BRL 35 million. The return of this equipment was based on the company's production schedule and plate stock, due to the temporary stoppage of the BF 3. Usiminas is the leader in the Brazilian flat steel market and one of the largest steel complexes in Latin America. The company has industrial and logistics units located in six Brazilian states and are present in the entire steelmaking chain from ore extraction, through steel production to its transformation into customized capital goods and products. It has the largest and most innovative Steel Research and Development Center in Latin America.
Brazilian steel maker Usiminas announced has recorded a consolidated adjusted EBITDA of BRL 1.9 billion in April-June 2022 quarter, up by 25% QoQ against BRL 1.6 billion in January-March 2022 quarter, with EBITDA margin of 23% as compared to 20% in Q1 of 2022. Usiminas President Mr Alberto Ono said “Always focused on serving the domestic market, Usiminas showed an increase of 9% in sales made in the country, with an improvement in our product mix, and high EBIDTA in both Siderurgia Mineração Usiminas and Soluções Usiminas.” In the second quarter, the highlight was the total steel sales of 1.1 million tonnes, 87% of which were destined for the domestic market and 13% for exports, compared to 76% and 24% in the first three months of the year. Due to exchange losses recorded at the end of the quarter, net income was BRL 1.1 billion, 16% lower than in 1Q22. Exchange losses were partially offset by better operating results. Steel adjusted EBITDA reached BRL 1.5 billion in April-June 2022 quarter, against BRL 1 billion in the first quarter of 2022, an increase of 44% QoQ. The adjusted EBITDA margin was 19% as compared to 15% in Q1 of 2022. The Ipatinga plant recorded crude steel production of 0.671 million tonnes in the second quarter, down 0.9% when compared to the first three months of the year. The production of rolled products at the Ipatinga and Cubatão mills totaled 1.07 million tonnes, down 1.7% QoQ compared to Q1 of 2022. At Mineração Usiminas, production volume reached 2.3 million tonnes, an increase of 35% QoQ when compared to the figures for the first quarter of 2022, representing a recovery in production levels, after a first quarter that was strongly impacted by record rainfall with temporary stoppage of operations in the period. The sales volume of the Mining business unit reached 2.4 million tonnes in April-June 2022, up 48% QoQ At Soluções Usiminas, a company that operates in the steel distribution, services, manufacture and sale of small diameter tubes, net revenue of BRL 2.4 billion was up 13% QoQ. The unit's Adjusted EBITDA stood at BRL 269 million in the second quarter, 301% higher than in the first three months of 2022. The Adjusted EBITDA margin was 11% against 3% in the first quarter. The renovation of Blast Furnace 3 at the Ipatinga Plant has already begun at an investment of around BRL 2 billion. The resumption of Blast Furnace 2 is scheduled for next October, with Capex maintained at BRL 35 million. The return of this equipment was based on the company's production schedule and plate stock, due to the temporary stoppage of the BF 3. Usiminas is the leader in the Brazilian flat steel market and one of the largest steel complexes in Latin America. The company has industrial and logistics units located in six Brazilian states and are present in the entire steelmaking chain from ore extraction, through steel production to its transformation into customized capital goods and products. It has the largest and most innovative Steel Research and Development Center in Latin America.
