Usiminas recorded net income of R$ 1.263 billion in the first quarter of 2022, up 5% compared to the same period last year.
In relation to the fourth quarter, there was a decrease of 49%, due to the non-recurring, operational and financial effects, recorded between October and December, as well as the lower operating result recorded in the period.
Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) was R$ 1.560 billion, a 36% decrease compared to the same period in 2021. In relation to the fourth quarter, a loss of 37% was recorded.
Net revenue was R$ 7.845 billion between January and March, an increase of 11% compared to the same period in 2021. In comparison with the fourth quarter, there was a 3% drop with the reduction in net revenue at the Mining unit , according to data recently released by the company.
Sales forecast
Usiminas released this Wednesday (20) its guidance for steel sales in the second quarter of 2022. The forecast is that the company will reach a volume between 950 thousand tons and 1.050 million tons.
In a material fact sent to the Securities and Exchange Commission (CVM), the company recalls that the projections were included in section 11 of the company’s Reference Form. The projections, however, depend on factors and market conditions that are beyond the company’s control, and may, therefore, differ in relation to the numbers and results to be effectively recorded.
Usiminas postpones completion of blast furnace repair in Ipatinga by 2 months
According to a statement to the market, Usiminas stated that the expectation of completion of the works for the repair of blast furnace 2 at the company’s plant in Ipatinga (MG) was postponed to June.
Blast Furnace 2 has been shut down since the end of September because of an accident involving the equipment. The initial projection released by Usiminas was of stoppage for up to 150 days. Then, in October, the company said it hoped to finish the works in April this year.
Despite the postponement, the value of the investment in the repair was not changed, according to Usiminas, which had budgeted the works at R$ 35 million, according to an October statement.
The company added that the return to operation of blast furnace 2 is conditioned to a recovery in the operational performance of the coke plants at the Ipatinga plant, “which have been showing less availability of coke production due to the need to carry out preservation and maintenance services”. ”.
The company also conditioned the return of the equipment to an assessment of the market situation.
Blast furnace 2 has the capacity to produce 55 thousand tons of pig iron per month, equivalent to 660 thousand tons per year. The company said at the time of the suspension of operations that the stop would be compensated with inventories and buying slabs on the market.
In addition to blast furnace 2, the Ipatinga plant has two other equipment for the production of crude steel: blast furnace 1, also with a capacity of 660 thousand tons per year, and blast furnace 3, with a nominal capacity of 2, 3 million tons per year and which has a general renovation scheduled for mid-2023.
*With information from Reuters
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
