UPDATE 2-Brazil's Gerdau quarterly profit falls 45% as market scenario hurt revenue

(Adds earnings details and context in paragraphs 4, 6-8, adds dividends in paragraph 8)

SAO PAULO, Feb 20 (Reuters) - Brazilian steelmaker Gerdau reported on Tuesday a 45.1% decline in fourth-quarter adjusted net profit compared with a year earlier, as geopolitical uncertainties and excess global steel production pressured revenues.

Adjusted net profit landed at 732 million reais ($148.55 million), below expectations of analysts polled by LSEG for 815.2 million reais.

Gerdau said revenues were pressured by factors including "the continuity of uncertainties related to the international macroeconomic scenario, marked by geopolitical conflicts, and excess of global steel production."

It also cited rising imports of steel in Brazil, and negative impacts in operations in Argentina due to the country's currency devaluation in December.

The company's net revenue fell 18.1% in the quarter year-on year, to 14.7 billion reais, with steel sales volumes falling 0.6% to 2.66 million metric tons.

Brazilian steelmakers

have complained

over cheaper steel, particularly from Russia and China, "flooding" the South American country's market, and have asked government for the creation of a temporary tax on imports.

Steel imports volume rose 50% in 2023 from the previous year, according to previously released data from Aco Brasil industry group.

A secretary of Brazil's ministry for industry had said earlier this month the subject is under assessment.

Gerdau's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell almost 44% to 2.04 billion reais in the quarter, while analysts were expecting a 2.13 billion-real adjusted EBITDA.

Separately, Gerdau announced its board approved investments of 6 billion reais for 2024, and it announced dividends to be paid to shareholders of 0.1 real per share.

($1 = 4.9275 reais) (Reporting by Andre Romani; Editing by Anthony Esposito, Steven Grattan and Leslie Adler)