Brazil: CSN reports 3Q13 earnings

Brazil: CSN reports 3Q13 earnings
19 November 2013

Companhia Siderurgica Nacional (CSN)announced its results for the 3Q13 and 9M13, posting a record net revenue of BRL4.7bn (US$2bn) in 3Q13, 15 per cent up on 2Q13. Year-to-date net revenue came to BRL12.4bn, also a new record. The adjusted EBITDA totalled BRL1.7bn in 3Q13, 51 per cent up on the BRL1.1bn recorded in 2Q13, fuelled by the mining and steel segments.

The consolidated EBITDA margin reached 31 per cent in 3Q13, the highest quarterly figure since 4Q11. Net revenue from steel operations reached the record amount of BRL$3.2bn in 3Q13, two per cent up on 2Q13. In the first nine months, steel revenue came to BRL9.3bn, 17 per cent more than in 9M12 and another new record.

CSN's cement sales in the first nine months reached an all-time high of 1.5Mt, generating record net revenue of BRL$308m.

Total steel sales in 9M13 amounted to 4.7Mt, while domestic steel sales totalled 3.6Mt, both new record and eight per cent up YoY.

Third-quarter net revenue from mining operations reached BRL1.6bn, 67 per cent higher than in 2Q13. Iron ore shipped through Tecar, in the Port of Itaguai, reached its highest-ever volume of 8.3Mt in 3Q13.

Net revenue from port logistics (Tecon) was also a record, totalling BRL133m in 9M13, 22 per cent up YoY, with a record number of 194,000 containers handled.

CSN closed the third quarter with cash and cash equivalents of BRL14.4bn.

Published under Cement News

Tagged Under: CSN Brazil