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Financial News: USIMINAS: Net Loss Totals R$ 19 Million In

USIMINAS: Net Loss Totals R$ 19 Million In 2Q18, After Profit A Year Earlier

07/27/2018 - 15:12:00 (RTTNews)

(RTTNews) - The Brazilan steelmaker Usiminas posted a net loss of R$ 19 million in the second quarter of 2018, after net income of R$ 176 million in the same period of 2017.

Usiminas' EBITDA (earnings before interest, taxes, depreciation, and amortization) totaled R$ 497 million in the period, down 30.1% on the same basis of comparison.

Adjusted EBITDA, which includes results of subsidiaries and reverses the results of discontinued operations, fell 30.8% to R$ 519 million.

Usiminas' net revenue increased 24.7% to R$ 3.204 billion. Steel sales fell 1.3% in the quarter to 977,000 tons, while iron ore sales increased 2.2-fold, to 1.386 million tons compared to the second quarter of 2017.

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