Quarterly

results

1stquarter of 2021

EBITDA

Brazil BD

North America BD

South America BD

Special Steel BD

56.5%

20.7%

13.8%

9.0%

950,0

38.0%

1100,0

1050,0

16.8%

36.9%

900,0

15.1%

850,0

14.3%

1000,0

34.2%

30.9%

2,537

10.7%

11.2%

800,0

750,0

23.4%

8.2%

843

700,0

15.7%

1,790

650,0

409

562

600,0

550,0

550

310

425

500,0

450,0

454

400,0

119

300,0

164

200,0

537

350,0

150,0

250,0

1Q20

4Q20

1Q21

1Q20

4Q20

1Q21

1Q20

4Q20

1Q21

1Q20

4Q20

1Q21

EBITDA

EBITDA Margin (%)

Adjusted EBITDA share by Business Division (last 12 months)

(R$ million)

FCF

Free Cash Flow

Working Capital

R$ million

and Financial Cycle

8.6

9.2

10.4

2,330

2,402

8.5

7.5

95

83

1,143

63

57

205

49

Mar | 20

Jun | 20

Sep | 20

Dec| 20

Mar| 21

1T20

2T20

3T20

-441

Working Capital (R$ billion)

Financial Cycle (days)

1Q20

2Q20

3Q20

4Q20

1Q21

LIQUIDITY AND INDEBTDNESS

Debt long profile

Debt and

Leverage

R$ billion

Average Cost of Debt

4.8% p.a

Debt

Maturity

8 years

20.0

21.0

19.5

17.5

17.8

6.0

2.55x

2.78x

0.5

2.07x

6.0

0.7

3.7

6.5

7.2

7.7

7.0

1.5

1.8

2.0

1.25x

0.96x

0.1

0.7

0.8

Mar/20

Jun/20

Sep/20

Dec/20

Mar/21

2021

2022

2023

2024

2025

2026

2027 2028 and

Gross Debt

Cash

Net debt/EBITDA (R$)

Bond

Debenture

Bilateral Loans

after

RETURN ON INVESTMENT

ROCE (1) (Return on Capital Employed)

14.2%

9.7% 7.0%

4.3%

8.7%

2017

2018

2019

2020

LTM1Q21

ROCE

(1) ROCE = NOPAT/(LTM capital employed)

NOPAT = Operational net income after taxes

Capital Employed = Working Capital + PPE + Goodwill + Other operational assets and liabilities

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Gerdau SA published this content on 05 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2021 12:20:07 UTC.