Brazilian major plunges into the red

摘要

Gerdau posted a net loss of BRL4.6 bn ($1.25bn, ?1.12 bn) for last year, dragged down by BRL5.3 bn ofimpairments to reflect the reduced value of assets at its north American, Brazilian and specialist steeldivisions in the weaker steel market.But adjusted EBITDA excluding the non-recurring items, according to the Brazil-based steel maker, wasBRL4.50 bn, just 8.3% lower than the year before, and adjusted net income came to BRL684 M, down42.5%.