Boston, MA 05/08/2014 (wallstreetpr) – Gerdau SA (ADR) (NYSE:GGB) reported that it has gone down in the statistics of shipment of steel products. The financial report that the company announced on May 7, 2014 indicates the fact. However, the overall performance of the company sounds satisfactory.
Gerdau results a lower performance in the shipment of steel:
Gerdau SA (ADR) (NYSE:GGB) revealed the economic statistics of the company that ended by March 2014. According to the officials, the shipment of steel faced a 3.7% reduction this quarter year compared to that of 2013. The shipment of steel in 1Q2014 has been mentioned as 4.4 million.
A better net sale:
The company’s net sales reached R$ 10.6 billion, which is 15.1% more compared to the prior year’s net sales. However, the EBITDA reached billion scores that in the last year settled at million. The EBITDA of 1Q2014 leaped by 11.3% from R$ 805 million to R$ 1.2 billion. The performance was better this year due to outstanding business in various Gerdau operated regions, except North America.
Net income of the company leaped from R$ 160 to R$ 440 million:
Gerdau SA (ADR) (NYSE:GGB) registered a net income of R$ 440 million in the first quarter, almost R$ 300 million more than that of 2013. The investments in the fixed assets brought a total of R$ 678.8 million in the first three months of the year. The report till March 31, 2014 reflects that Gerdau recorded a net debt of 12.9 billion.
Dividend payout:
Gerdau SA (ADR) (NYSE:GGB) has also announced a quarterly dividend payout for its shareholders. The company, this year, will offer R$ 0.11 on each share (interest on capital stock) and R$0.07 per share (based on 1Q2014 results). The payout will be made on May 30, 2014.
The overwhelming performance will surely create excitement among the investors as well as the employees. Well, the company is all set for the next session to score a better business!
