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 2005 was a challenging year for the Gerdau Group in Brazil. The reduced demand in the domestic market required increased operational flexibility to adjust production volumes, as well as a strong export effort to meet international market demands, which remained high.
Despite the economic scenario, we worked hard to generate value for our shareholders, with a vision focused on long-term results and sustained profitability. The results demonstrate that this objective is being met.
Our main competitive edge in the market is people, and therefore we continuously invest in training. Driven by the same values, our professionals strive to exceed limits, generate sustainable economic development and contribute to the quality of life within the population. It is important to emphasize that the values we want for the Gerdau Group are the same we want for our families. This vision leads to a profound synergy and, fundamentally, to a deep respect for individuals and their integrity. What makes this possible is a business culture strengthened by more than 100 years of work and dedication.
We are aware of the importance of developing the communities in which we operate and, to this end, we invest in social programs. We have also directed significant resources towards the constant updating of air, water and soil protection equipment, as well as awareness-raising initiatives focused on environmental protection.
However, to achieve sustainable development in Brazil, we need to build up social capital. This helps to build a strong community, resulting in a more open and democratic society. It also reflects the level of trust between the different people that make up a community and their ability to establish relationships based on common interests. Communities do not acquire a sense of civic duty through being rich. In fact, history demonstrates quite the opposite: communities become wealthy because they foster civic duty. Building strong social capital can reveal new ways of creating economic development.
Business leaders need to become increasingly aware of the importance of working on building social capital. We are responsible for helping create a better and institutionally more organized country – one without corruption and with brighter perspectives for future generations.
By publishing our first Sustainability Report, we renew our commitment to transparency and the belief that there is still much to be done. We will continue working to attain new levels of efficiency in economic, social and environmental areas.
We take this opportunity to express our thanks for the partnership of our employees, customers, suppliers, shareholders and society as a whole. We are also grateful for the contributions and criticisms that help us improve our performance. This is crucial for our continued evolution.
Thank you.
Jorge Gerdau Johannpeter
Chairman
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