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)