Despite reducing the BRL 533 million ($154.5 million) net loss it posted in Q3 2015, Brazilian steelmaker Companhia Siderurgica Nacional (CSN) was still in red in Q3 this year with a BRL 100 million ($29 million) net loss, the company announced this week.
CSN’s net revenues in Q3 rose 12 percent, year-on-year, to BRL 4.43 billion. Steel sales volumes in Q3 fell 2 percent, year-on-year, to 1.17 million mt.
Out of the company’s total steel sales volumes, 62 percent supplied the domestic market, while 34 percent supplied its subsidiaries outside Brazil. An additional 4 percent was destined to the export markets. Iron ore sales volumes in Q3 reached 10.2 million mt, up 35 percent year-on-year.
The company’s cost of products sold slightly increased 4 percent in Q3, year-on-year, to BRL 3.12 billion.
CSN’s gross profit in Q3 this year was BRL 1.31 billion, 39 percent up, year-on-year. Adjusted EBITDA in Q3 was BRL 1.23 billion, 45 percent up, year-on-year.