Gerdau S.A. Announces 2nd Quarter Consolidated Information
SAO PAULO, Aug. 5 /PRNewswire-FirstCall/ --
2nd quarter of 2010 Highlights
Shipments reached 4.4 million tonnes in the 2Q10, 30% higher than in the 2Q09, mainly due to a recovery on shipments in Brazil and Specialty Steel business operations.
Net Sales reached R$ 8.3 billion in the 2Q10, 30% more than 2Q09, as a result of higher shipments.2Q10 EBITDA reached R$ 1.7 billion, compared to R$ 595 million in 2Q09. The EBITDA margin reached 21% in the 2Q10, compared to 9% in the 2Q09. Net Income was R$ 856 million in the 2Q10, compared to a net loss of R$ 329 million in the 2Q09. The 2Q09 result was impacted by R$ 796 million in losses from impairment of assets. Investments in fixed assets totaled R$ 220 million in the 2Q10. Net Debt was R$ 10.4 billion on June, 30th 2010, representing 1.8x of the last twelve months EBITDA. The Company approved the dividend payment of R$ 199 million ( R$ 0.14/share) for Gerdau S.A. shareholders, and R$ 89 million ( R$ 0.22/share) for Metalurgica Gerdau S.A. shareholders, based on the results of the 2Q10. The payment will be on August, 26th, 2010. Additional Information Gerdau S.A (NYSE: GGB). informs that it is filling today its 2Q10 results at the Securities and Exchange Commission (SEC) and at the Comissao de Valores Mobiliarios (CVM), which are available at Gerdau's website. To access this document, please click on http://www.gerdau.com/investidores/informacoes-financeiras-informacoes-relevantes.aspx?language=en-US The 2Q10 Valuation Guide is also available at Gerdau's website http://www.gerdau.com/investidores/informacoes-operacionais.aspx?language=en-US SOURCE Gerdau S.A.
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