Gerdau has demonstrated robust financial performance in the third quarter of 2024, showcasing the company's resilience and strategic operational efficiency. The steel manufacturing giant achieved an adjusted EBITDA of R$3.0 billion, maintaining a healthy EBITDA margin of 17.4%, while recording net sales of R$17.4 billion for the quarter.
The company's operational performance remained strong with steel shipments reaching 2.8 metric tons during the quarter. Despite facing challenges from increased steel imports into Brazil, Gerdau's domestic market showed improved demand compared to the previous quarter. The Brazil Business Division achieved its best EBITDA and margin performance in the past eight quarters, reflecting successful cost management initiatives.
Capital expenditure during the quarter reached R$1.5 billion, with 39% directed towards maintenance and 61% allocated to competitiveness enhancement projects, expansion, and technological upgrades. Notably, approximately R$200 million was specifically invested in environmental controls and technological improvements aimed at energy efficiency and reducing greenhouse gas emissions.
The company's commitment to sustainability was recognized internationally as Gerdau secured the Steelie Awards for the third consecutive year. The prestigious award from the World Steel Association acknowledged Gerdau's excellence in sustainability, particularly for its ESG initiatives in the supply chain, demonstrating the company's dedication to environmental stewardship.
The company's strategic focus on cost reduction and operational optimization has yielded positive results, particularly in the Brazilian market. CEO Gustavo Werneck emphasized the company's continued commitment to creating value through innovative steel products, solutions, and services, while maintaining a strong focus on building a sustainable future.
Under the leadership of CFO Rafael Japur, Gerdau has maintained strong discipline in cost management across all business units, contributing to the improved performance of the Brazil Business Division. The company continues to navigate market challenges while focusing on operational efficiency and strategic growth initiatives.
