CSA registers a €11 million operational loss in Q1

Wednesday, 18 February 2015 01:46:40 (GMT+3)   |   Sao Paulo
       

ThyssenKrupp’s Companhia Siderurgica do Atlantico (CAS) registered a €11 million operational loss in fiscal Q1 of 2015, ended on December 31, 2014. In a statement, the company said the performance is a result of a reevaluation of transport contracts, which pulled down the result in Brazil.

CSA registered a €502 million net revenue, down 6.7 year-on-year. According to the company, the result is a consequence of a reduction in steel output. The company noted that demand for steel plates of high quality continues “strong” in South America.

According to reports, ThyssenKrupp expects a stagnation of Brazil’s market as a result of a weaker performance of the nation’s automotive industry. ThyssenKrupp said steel sales to manufacture cars don’t bring improvement signals, as a result of lower car sales in Brazil.


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