Gerdau(US:GGB)2024-02-21 15:50Financial Performance & Shareholder Returns - Gerdau's 2023 CAPEX reached R$2.6 billion[2,30] - The company's dividend distribution in 4Q23 was R$175 million, equivalent to R$0.10 per share[2,55] - Gerdau's free cash flow in 2023 was R$7.0 billion[55] Business Division Performance - North America BD's shipments decreased by 4.5% from 4,090 thousand tonnes in 2022 to 3,907 thousand tonnes in 2023[45] - Brazil BD experienced a 37.6% yearly decrease in heavy vehicle production[48,49] - South America BD's shipments decreased by 7.2% from 1,212 thousand tonnes in 2022 to 1,125 thousand tonnes in 2023[85] Market Dynamics & Steel Imports - Brazil's economic activity is impacted by high interest rates at 11.25% in January 2024[33] - Steel imports reached a penetration rate of 25.2% in Brazil in December, with an increase of around 50% in 2023 compared to 2022[66] - Chinese steel production and exports are noted as key factors influencing the global steel market[29] Strategic Investments & Sustainability - Strategic CAPEX for 2021-2026 includes investments in growth and competitiveness, with approximately R$380 million spent in 4Q23[8] - Gerdau is developing a new sustainable mining platform with a capacity of 5.5 million tonnes per year, utilizing 100% dry stacking[7] - Gerdau achieved an A- Leadership score in the CDP Climate Change assessment, surpassing the global average for the metals and metallurgy sector[17,41]