Adjusted earnings at Brazil-based Votorantim's long steel division, which includes assets in Argentina and Colombia, dropped by 11% in 2017 compared with the previous year.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) reached 272 million Reais ($81.37 million) last year, down from 304 million Reais in 2016, parent company Votorantim SA said on Wednesday April 4.Results were affected by higher costs during the year, as well as currency devaluation effects in Argentina and Colombia.Net revenues...