SAO PAULO, Aug. 4, 2011 /PRNewswire/ --
2nd quarter of 2011 Highlights
Shipments reached 4.9 million tonnes in the 2Q11, 12% higher than in the 2Q10 and 4% higher than in the 1Q11, due to the demand recovery in all operations in which Gerdau runs.
Net Sales reached R$ 9.0 billion in the 2Q11, 9% more than 2Q10 and 8% higher than in the 1Q11, due to the higher shipments in all operations.
2Q11 EBITDA reached R$ 1.3 billion, compared to R$ 1.7 billion in the 2Q10 and R$ 1.1 billion in the 1Q11. The EBITDA margin was 15% in the 2Q11, recovering from the 13% recorded in the 1Q11, due to better operating results.
Net Income was R$ 503 million in the 2Q11, lower than 2Q10, but 23% higher than 1Q11 net income of R$ 409 million.
Investments in fixed assets totaled R$ 340 million in the 2Q11 and totaled R$ 673 million in the 6 months of 2011.
Gross Debt was R$ 11.9 billion on June 30th, 2011, representing 2.7x the last twelve months EBITDA. There was a R$ 2.8 billion reduction when compared to December 2010 resulted mainly from the Public Offering concluded in April. It is worth to mention that on July 21, 2011, the credit-risk rating agency FitchRatings affirmed Gerdau's investment grade rating (BBB-), with a stable outlook.
The Company deliberated the dividend payment, as interest on capital, of R$ 154 million (R$ 0.09/share) for Gerdau S.A. shareholders, and R$ 61 million (R$ 0.15/share) for Metalurgica Gerdau S.A. shareholders, based on the results of the 2Q11. The payment will be held on August 25th, 2011.
Gerdau S.A. informs that it is filling today its 2Q11 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 2Q11 Valuation Guide is also available at Gerdau's website http://www.gerdau.com/investidores/informacoes-operacionais.aspx?language=en-US.
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SOURCE Gerdau S.A.