Brazil’s CSN sees profit decline sharply in Q1

Thursday, 09 May 2019 20:26:54 (GMT+3)   |   Sao Paulo

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) saw its net profit in Q1 decline 94 percent, year-on-year, to BRL 87 million ($22.1 million), the company said this week while releasing its quarterly results.

Net revenues in Q1 rose 19 percent, year-on-year, to BRL 6 billion ($1.5 billion). Steel sales volumes in Q1 reached 1.1 million mt, 8 percent down, year-on-year, while iron ore sales volumes in Q1 rose 19 percent, year-on-year, to 8.8 million mt, from 7.4 million in Q1 2018.

CSN reported an adjusted EBITDA of BRL 1.7 billion ($438.9 million) in Q1, 39 percent up, year-on-year.

USD = BRL 3.92 (May 9)

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