PORTO ALEGRE, Brazil, Nov. 5, 2010 /PRNewswire-FirstCall/ --
3rd quarter of 2010 Highlights
Shipments reached 4.4 million tonnes in the 3Q10, 14% higher than in the 3Q09, mainly due to the positive performance of the Specialty Steel Business Operation and the improvement in domestic demand at the Brazil Business Operation, stimulated by automotive and construction industries, respectively.
Net Sales reached R$ 8.2 billion in the 3Q10, 20% more than 3Q09, due to the higher shipments and, to a lesser extent, the higher net sales per ton sold.3Q10 EBITDA reached R$ 1.3 billion, compared to R$ 1.4 billion in 3Q09. The EBITDA margin reached 15% in the 3Q10, compared to 20% in the 3Q09. Net Income was R$ 609 million in the 3Q10, compared to a net income of R$ 655 million in the 3Q09, impacted by the lower operational income in relation to the comparison periods. Investments in fixed assets totaled R$ 298 million in the 3Q10. Gross Debt was R$ 14.3 billion on September 30th, 2010, representing 2.5x of the last twelve months EBITDA. The Company approved the dividend payment of R$ 170 million ( R$ 0.12/share) for Gerdau S.A. shareholders, and R$ 73 million ( R$ 0.18/share) for Metalurgica Gerdau S.A. shareholders, based on the results of the 3Q10. The payment will be on November 26, 2010. Additional Information Gerdau S.A. (NYSE: GGB) informs that it is filling today its 3Q10 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-arquivos-sec.aspx?language=en-US The 3Q10 Valuation Guide is also available at Gerdau's website http://www.gerdau.com/investidores/informacoes-operacionais.aspx?language=en-US SOURCE Gerdau S.A.