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25 SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2019
Segment Information [Abstract]  
Schedule of consolidated results

Beginning 2013, the Company no longer proportionately consolidates joint ventures MRS and CBSI. For segment information preparation and presentation purposes, Management decided to maintain the proportionate consolidation of the joint ventures, as historically presented. For consolidated profit reconciliation purposes, the amounts of these companies were eliminated in the column “Corporate expenses/elimination”.

 

                                12/31/2019
P&L   Steel   Mining    Logistics       Energy   Cement   Corporate expenses/elimination   Consolidated
      Port   Railroads        
Metric tons (thou.) (*)     4,524,805   38,545,067                   (3,258,923)    
Net revenues                                
Domestic market   10,027,999   926,836   240,451     1,321,355     325,343     570,805   (2,462,088)   10,950,701
Foreign market     3,921,033    9,100,813                   1,463,870   14,485,716
Total net revenue (note 21)   13,949,032   10,027,649   240,451     1,321,355     325,343     570,805     (998,218)   25,436,417
Cost of sales and services     (12,962,861)     (4,396,247)   (173,344)     (1,030,210)     (266,754)     (607,719)   2,173,871   (17,263,264)
Gross profit   986,171     5,631,402   67,107   291,145     58,589   (36,914)   1,175,653   8,173,153
General and administrative expenses   (834,977)   (186,189)     (34,560)   (109,770)   (29,034)   (91,466)   (1,567,874)     (2,853,870)
Depreciation (note 22)   700,074   476,374   30,568   387,565     17,471     139,667     (330,015)   1,421,704
Proportionate EBITDA of joint ventures                             510,072   510,072
Adjusted EBITDA   851,268     5,921,587   63,115   568,940     47,026     11,287     (212,164)   7,251,059
                                 
Sales by geographic area                                
Asia     2,980     6,742,946                   1,463,870   8,209,796
North America   767,977                           767,977
Latin America   169,036                           169,036
Europe     2,978,994     2,357,867                       5,336,861
Others     2,046                           2,046
Foreign market     3,921,033     9,100,813                   1,463,870   14,485,716
Domestic market   10,027,999   926,836   240,451     1,321,355     325,343     570,805   (2,462,088)   10,950,701
Total   13,949,032   10,027,649   240,451     1,321,355    325,343     570,805     (998,218)   25,436,417

 

                                12/31/2018
P&L   Steel   Mining    Logistics       Energy   Cement   Corporate expenses/elimination   Consolidated
      Port   Railroads        
Metric tons (thou.) (*)     5,068,758   34,780,756                   (4,961,345)    
Net revenues                                
Domestic market   10,328,372   972,360   266,378     1,506,114     410,606     588,230   (2,718,623)   11,353,437
Foreign market     5,305,771     5,012,421                   1,297,256   11,615,448
Total net revenue (note 21)   15,634,143     5,984,781   266,378     1,506,114     410,606     588,230   (1,421,367)   22,968,885
Cost of sales and services     (12,613,216)     (3,585,691)   (189,999)     (1,049,071)     (286,734)     (544,266)   2,163,320   (16,105,657)
Gross profit     3,020,927     2,399,090   76,379   457,043     123,872     43,964     741,953   6,863,228
General and administrative expenses   (984,980)   (144,754)     (35,423)   (106,412)   (27,948)   (95,893)   (1,362,301)     (2,757,711)
Depreciation (note 22)   609,274   366,547   20,368   258,985     17,285     115,411     (212,763)   1,175,107
Proportionate EBITDA of joint ventures                             568,045   568,045
Adjusted EBITDA     2,645,221     2,620,883   61,324   609,616     113,209     63,482     (265,066)   5,848,669
                                 
Sales by geographic area                                
Asia   40,681    4,422,377                   1,297,256   5,760,314
North America     1,506,041                           1,506,041
Latin America   369,830                           369,830
Europe     3,330,991   590,044                       3,921,035
Others   58,228                           58,228
Foreign market     5,305,771     5,012,421                   1,297,256   11,615,448
Domestic market   10,328,372   972,360   266,378     1,506,114     410,606     588,230   (2,718,623)   11,353,437
Total   15,634,143     5,984,781   266,378     1,506,114    410,606     588,230   (1,421,367)   22,968,885

 

                                12/31/2017
    Steel   Mining    Logistics       Energy   Cement   Corporate expenses/elimination   Consolidated
        Port   Railroads        
Metric tons (thou.) (*)     4,921,719   32,576,843                   (5,359,571)    
Net revenues                                
Domestic market     7,818,552   829,268   238,240     1,416,612     407,671     487,129   (2,491,006)   8,706,466
Foreign market     5,140,471     3,791,703                     885,961   9,818,135
Total net revenue (note 21)   12,959,023     4,620,971   238,240     1,416,612     407,671     487,129   (1,605,045)   18,524,601
Cost of sales and services     (10,537,547)     (3,005,840)   (156,997)     (1,024,696)     (285,085)     (512,762)   1,926,786   (13,596,141)
Gross profit     2,421,476     1,615,131   81,243   391,916     122,586   (25,633)     321,741   4,928,460
General and administrative expenses   (963,822)   (158,958)     (27,943)     (94,921)   (27,098)   (80,823)     (877,383)     (2,230,948)
Depreciation (note 22)   658,587   490,805   15,752   294,571     17,265     121,801     (190,016)   1,408,765
Proportionate EBITDA of joint ventures                             538,170   538,170
Adjusted EBITDA     2,116,241     1,946,978   69,052   591,566     112,753     15,345     (207,488)   4,644,447
                                 
Sales by geographic area                                
Asia   23,364    3,592,226                     885,961   4,501,551
North America     2,009,337                           2,009,337
Latin America   506,951                           506,951
Europe     2,564,823   197,701                       2,762,524
Others   35,996     1,776                       37,772
Foreign market     5,140,471     3,791,703                     885,961   9,818,135
Domestic market     7,818,552   829,268   238,240     1,416,612     407,671     487,129   (2,491,006)   8,706,466
Total   12,959,023     4,620,971   238,240     1,416,612     407,671     487,129   (1,605,045)   18,524,601

 

(*) The ore sales volumes presented in this note take into consideration Company sales and the interest in its subsidiaries and joint ventures.
Schedule of EBITDA and Adjusted EBITDA

As required by IFRS 8, the table below shows the reconciliation of the measurement used by the chief operating decision maker with the results determined using the accounting practices:

 

    12/31/2019   12/31/2018   12/31/2017
             
Net income / (loss) for the year   2,244,511   5,200,583   111,229
Depreciation / amortization / depletion (note 22)   1,421,704   1,175,107   1,408,765
Income tax and social contribution (note 14)   (833,778)   250,334   409,109
Financial income / (expenses) (note 24)   2,131,184   1,495,643   2,463,627
EBITDA   4,963,621   8,121,667   4,392,730
Other operating (income) / expenses (note 23)   1,903,081   (2,705,337)   (177,342)
Equity in results of affiliated companies (note 8b)   (125,715)   (135,706)   (109,111)
Proportionate EBITDA of joint ventures   510,072   568,045   538,170
Adjusted EBITDA (*)   7,251,059   5,848,669   4,644,447

 

(*) The Company discloses its adjusted EBITDA net of its share of investments and other operating income (expenses) because it understands that these should not be included in the calculation of recurring operating cash generation.