OREANDA-NEWS. EBITDA and net profit also increased in the third quarter. - Investments in property, plant, and, equipment (CAPEX) reached BRL 714.9 million in the third quarter and BRL 1.9 billion in the first nine months of 2013. The higher demand for long and special steel in Brazil and the recovery of some Latin American markets, coupled with the offer of an enhanced mix of products and the devaluation of the Brazilian currency against the U.S. dollar, increased Gerdau's net revenue to BRL 10.5 billion in the third quarter, an increase of 6.9% over the same period last year. In the third quarter, Gerdau's sales volume was 4.8 million tons, while the consolidated steel production was 4.5 million tons, a 5.1% decrease over the same period in 2012 as a result of the company's efforts to optimize the working capital. Also in the third quarter, Gerdau's EBITDA increased 36.8%, reaching BRL 1.4 billion. The company's net profit was BRL 642 million as compared to BRL 408 million over the same period last year. “We continue working hard to enhance the efficiency of our operations, leading to increased EBITDA and liquidity of the Company, as well as improved debt indicators. Thanks to our teams' efforts, we also managed to reduce the working capital by more than U.S. USD 700 million in the last twelve months. In addition, we continue expanding our mining operations and begun to sell our own production of flat steel, which are expected to increase our EBITDA over the coming years,” said the CEO, Andre B. Gerdau Johannpeter. In the year-to-date (from January to September), the consolidated net revenue increased 1.9% over the first nine months of 2012, reaching BRL 29.5 billion. In the same period, 13.9 million tons of products were sold, a decrease of 2.2% over the same period last year. The EBITDA grew 3.9%, reaching BRL 3.4 billion, while the net profit was BRL 1.2 billion, 11.2% lower when compared to the period between January and September 2012. In the third quarter, the markets supplied by Gerdau performed differently. Sales for the Brazilian market (excluding the special steel mills) reached 1.5 million tons, showing a 15.3% increase against the same period of the previous year, mainly because of higher demand from the construction and infrastructure industries and, to a lesser extent, from the capital goods industry. Conversely, exports from Brazil fell by 18.4%, amounting to 369,000 tons. In the United States and Canada (excluding the special steel mills), 1.6 million tons were sold, 9% less than the volume marketed in the third quarter of 2012, mainly as a result of the high level of imports in the period. In other Latin American countries (excluding the operations located in Brazil), the Company's sales increased by 2.1%, reaching 720,000 tons. In the Special Steel Operation (including the mills located in Brazil, Spain, the United States, and India), the sales performance improved by 14.1%, amounting to 713,000 tons, due to the expansion of vehicle production in Brazil, especially trucks, and because of the beginning of product sales in India in the 1st quarter of 2013. Investments reach BRL 714.9 million in the quarter The investments in property, plant, and equipment (CAPEX) amounted to BRL 714.9 million in the third quarter and BRL 1.9 billion in the year-to-date. In this sense, we highlight the beginning of the operation of the new iron ore processing center located in Miguel Burnier (MG) in September, which increased the production capacity from 6.5 million to 11.5 million tons per year. In the third quarter, there was also the startup of the operation of a hot rolled coil mill, with annual installed capacity of 800,000 tons, whose products are already being marketed. In the special steel sector, a new rolling mill with an annual capacity of 500,000 tons is undergoing testing in Pindamonhangaba (SP). In Mexico, the main equipment for the installation of a new structural shape mill has already been purchased and the construction is fully underway. The new mill has an annual installed capacity of 1 million tons of steel and 700 million tons of rolled products. Dividends will be paid on November 22 On November 22, the publicly listed companies Gerdau S.A. and Metalurgica Gerdau S.A. will pay dividends related to the results of the 3Q13. The shareholders of Gerdau S.A. will receive BRL 204.1 million (BRL 0.12 per share) and the shareholders of Metalurgica Gerdau S.A. will receive BRL 65 million (BRL 0.16 per share). About Gerdau Gerdau is the leader in the segment of long steel in the Americas and one of the main suppliers of special long steel in the world. With over 45,000 employees, it has industrial operations in 14 countries-in the Americas, Europe, and Asia-which together represent an installed capacity of over 25 million metric tons of steel per year. It is the largest recycler in Latin America; and in the world, it transforms each year millions of tons of scrap steel, reinforcing its commitment to sustainable development in the regions where it operates. Gerdau is listed on the stock exchanges of Sao Paulo, New York, and Madrid and has over 130,000 shareholders.