Brazil CSN sees net profit rise in Q2

Wednesday, 31 July 2019 00:57:15 (GMT+3)   |   Sao Paulo
       

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) saw its net profit in Q2 rise 59 percent, year-on-year, to BRL 1.89 billion ($496.9 million), the company said this week while releasing its quarterly results. Net revenues in Q2 reached BRL 6.90 billion ($1.81 billion), 21 percent up, year-on-year.

Steel sales volumes in Q2 declined 12 percent, year-on-year, to 1.16 million mt, the company said. On the other hand, iron ore sales volumes in Q2 grew 25 percent, year-on-year, to 10.1 million mt.

CSN said adjusted EBITDA in Q2 was BRL 2.38 billion ($624.8 million), 68 percent up, year-on-year.

USD = BRL 3.81 (July 31)


Most Recent Related Articles

Gerdau sees profit decline 15 percent in Q2

CSN to use proposed IPO to reduce debt

Vale goes from loss to profit in Q2, resumes dividends

Usiminas turns to loss in Q2

CSN closes $115 million iron ore supply contract with Glencore