Brazil steelmaker Companhia Siderurgica Nacional (CSN) posted a BRL 533 million net loss in Q3, from a BRL 250 million loss reported a year ago, the company said on Friday.
The company said net revenues in Q3 improved 2 percent, year-on-year, to BRL 3.9 billion, thanks to the company’s higher sales volumes in USD outside Brazil, while gross profit in the period declined 3 percent, year-on-year, to BRL 941 million.
CSN’s adjusted EBITDA in Q3 reached BRL 853 million, 13 percent down, year-on-year. EBITDA margin in Q3 slightly declined to 20 percent, from 23 percent a year ago.
Sales volumes in Q3 declined 7 percent, year-on-year, to 1.1 million mt, impacted by lower sales in the domestic market. While in Q3 last year CSN destined 72 percent of its sales to the domestic market, in Q3 this year such a number represents just 58 percent of the company’s sales. The share of sales of its subsidiaries outside Brazil increased to 39 percent from 25 percent a year ago.
CSN reported iron ore sales volumes of 7.5 million mt, 2 percent down, year-on-year. The company said 100 percent of its iron ore sales were destined to the export market.
USD = BRL 3.84 (November 13)