Gerdau Income Statement

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	69,859	67,027	68,916	82,412	78,345
Revenue Growth (YoY)	4.23%	-2.74%	-16.38%	5.19%	78.81%
Cost of Revenue	61,891	57,823	57,584	63,661	57,528
Gross Profit	7,967	9,203	11,332	18,751	20,817
Selling, General & Admin	2,131	2,178	2,218	2,196	2,106
Other Operating Expenses	228.5	692.58	-764.03	-36.27	-1,308
Operating Expenses	2,369	2,901	1,464	2,160	797.48
Operating Income	5,598	6,302	9,868	16,592	20,020
Interest Expense	-1,274	-796.93	-840.07	-964.61	-1,060
Interest & Investment Income	693.61	726.15	903.02	606.36	249.02
Earnings From Equity Investments	95.62	464.47	827.61	1,152	563.16
Currency Exchange Gain (Loss)	-495.74	-1,765	-850.38	-974.71	-108.37
Other Non Operating Income (Expenses)	-45.63	-76.04	-561.57	-551.37	-355.32
EBT Excluding Unusual Items	4,572	4,855	9,347	15,859	19,309
Gain (Loss) on Sale of Investments	-	808.37	-	-	-
Asset Writedown	-1,965	-199.63	-	-	0.36
Other Unusual Items	-82.68	-	-	-	963.68
Pretax Income	2,524	5,464	9,347	15,859	20,273
Income Tax Expense	1,106	864.65	1,810	4,379	4,714
Earnings From Continuing Operations	1,418	4,599	7,537	11,480	15,559
Minority Interest in Earnings	-31.42	-32.75	-35.42	-54.04	-64.83
Net Income	1,387	4,566	7,502	11,426	15,494
Net Income to Common	1,387	4,566	7,502	11,426	15,494
Net Income Growth	-69.63%	-39.13%	-34.34%	-26.26%	554.93%
Shares Outstanding (Basic)	2,004	2,090	2,099	2,099	2,148
Shares Outstanding (Diluted)	2,013	2,099	2,110	2,111	2,159
Shares Change (YoY)	-4.13%	-0.49%	-0.04%	-2.24%	0.12%
EPS (Basic)	0.69	2.18	3.57	5.44	7.21
EPS (Diluted)	0.69	2.18	3.56	5.41	7.18
EPS Growth	-68.32%	-38.83%	-34.32%	-24.57%	553.97%
Free Cash Flow	1,306	5,603	5,930	6,858	9,491
Free Cash Flow Per Share	0.65	2.67	2.81	3.25	4.40
Dividend Per Share	0.620	0.800	1.258	2.881	2.492
Dividend Growth	-22.50%	-36.42%	-56.32%	15.60%	647.71%
Gross Margin	11.40%	13.73%	16.44%	22.75%	26.57%
Operating Margin	8.01%	9.40%	14.32%	20.13%	25.55%
Profit Margin	1.98%	6.81%	10.88%	13.86%	19.78%
Free Cash Flow Margin	1.87%	8.36%	8.60%	8.32%	12.11%
EBITDA	8,786	8,957	12,484	19,131	22,210
EBITDA Margin	12.58%	13.36%	18.12%	23.21%	28.35%
D&A For EBITDA	3,188	2,655	2,616	2,540	2,190
EBIT	5,598	6,302	9,868	16,592	20,020
EBIT Margin	8.01%	9.40%	14.32%	20.13%	25.55%
Effective Tax Rate	43.81%	15.82%	19.36%	27.62%	23.25%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.