Brazil’s steelmaker Companhia Siderurgica Nacional (CSN) posted a BRL 67 million ($21.5 million) net profit in the fourth quarter (Q4) of 2014, reverting a BRL 487 million loss in Q4 2013, it said on Thursday.
According to the company, Q4 adjusted EBITDA reached BRL 1.0 billion, 3 percent up quarter-on-quarter, due to the steel segment, but 12 percent down year-on-year.
The steel segment’s EBITDA in Q4 totaled BRL 723 million, 10 percent higher quarter-on-quarter.
Iron ore average sales volume in Q4 was 7.5 million mt, 2 percent down quarter-on quarter.
Annual iron ore sales volume totaled 29 million mt, 13 percent up year-on-year, while shipment of the product through its Tecar terminal reached a record 33 million mt, 14 percent up year-on-year, it said.
According to the company, it ended 2014 with a BRL 112 million net loss as a result of a falling domestic demand for steel.