• Gerdau S.A average ebitda margin for 2023 was 21.87%, a 21.27% decline from 2022.
• Gerdau S.A average ebitda margin for 2022 was 27.78%, a 1.76% decline from 2021.
• Gerdau S.A average ebitda margin for 2021 was 27.3%, a 96.4% increase from 2020.

Ebitda margin can be defined as earnings before interest, taxes, depreciation and amortization as a portion of total revenue.