Gerdau's profit falls 60% in Q1

SÃO PAULO-Gerdau closed the first quarter of 2013 with consolidated net income of R $ 160 million, which represents a drop of 60% on the same period last year. Ebitda (earnings before interest, taxes, depreciation and amortization) totaled r $ 805 million, a decline of 20% of the registered in the same period last year. The Ebitda margin was 9% compared with 11% in the first quarter of 2012.
Net revenue totaled r $ 9,166 billion, maintaining stability as compared to the same period last year, when revenues totaled r $ 9,199 billion. The financial result was negative at R $ 192 million in the first quarter of 2013, up from a negative result of R $ 97 million recorded in the first three months of last year.