Brazilian steelmaker Companhia Siderurgica Nacional (CSN) posted a BRL 43 million ($13.5 million) net loss in Q2, the company said on Tuesday while releasing its quarterly results.
CSN diminished its net loss in Q2 from BRL 831 million in Q1 2016 and BRL 615 million in Q2 2015, respectively.
The company’s net revenues in Q2 totaled BRL 4.3 billion, 18 percent up, year-on-year, thanks to higher sales volumes seen at its mining segment.
Out of CSN’s total steel sales volumes of 1.2 million mt in Q2, 53 percent supplied the domestic market, while 40 percent attended the needs of its subsidiaries overseas and 7 percent was destined to the export market. As for its iron ore sales volumes, 93 percent supplied the export market.
Cost of products sold rose 20 percent in Q2, year-on-year, to BRL 3.4 billion, while adjusted EBITDA in the same period was BRL 855 million, 7 percent up, year-on-year.
1 USD = BRL 3.17 (August 16)