SAO PAULO, Feb 23 (Reuters) - Brazilian steelmaker

Gerdau ( GGB ) ​on Monday ‌reported a 0.5% ⁠increase in ⁠its

fourth-quarter adjusted ‌net ‌profit to 670 ​billion reais ($129.72

billion) ‌compared to a year ​earlier.

Gerdau's ( GGB ) ​adjusted ‌earnings before interest, taxes,

depreciation, amortization (EBITDA) came ⁠in at ⁠2.37 billion

reais, down 0.7% year-on-year and ⁠mostly ‌in line ‌with the ⁠2.41

billion reais expected by analysts in a LSEG poll.

($1 = ​5.1648 reais)

(Reporting by Fernando Cardoso, ​Editing ‌by Iñigo ​Alexander)