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)

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