SAO PAULO, May 5, 2011 /PRNewswire/ -- Gerdau S.A. announces highlights for the first quarter 2011:
Shipments reached 4.7 million tonnes in the 1Q11, 16% higher than in the 1Q10, due to the demand recovery in all markets in which Gerdau operates.
Net Sales reached R$ 8.4 billion in the 1Q11, 18% more than 1Q10, due to the higher shipments.
1Q11 EBITDA reached R$ 1.1 billion, compared to R$ 1.4 billion in the 1Q10 and R$ 815 million in the 4Q10. The EBITDA margin was 13% in the 1Q11, recovering from the 10% recorded in the 4Q10.
Net Income was R$ 409 million in the 1Q11.
Investments in fixed assets totaled R$ 333 million in the 1Q11.
Gross Debt was R$ 14.2 billion on March 31st, 2011, representing 2.9x the last twelve months EBITDA. After the public offering on April 2011, the pro forma indicator Gross Debt/EBITDA is 2.5x.
The Company approved the dividend payment of R$ 102 million (R$ 0.06/share) for Gerdau S.A. shareholders, and R$ 41 million (R$ 0.10/share) for Metalurgica Gerdau S.A. shareholders, based on the results of the 1Q11. The payment will be on May 27th, 2011.
Additional Information
Gerdau S.A. informs that it is filling today its 1Q11 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 1Q11 Valuation Guide is also available at Gerdau's website http://www.gerdau.com/investidores/informacoes-operacionais.aspx?language=en-US .
Investor Relations
[email protected]
+55 51 3323 2703
SOURCE Gerdau S.A.
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