CSN goes from loss to profit in Q2

Wednesday, 08 August 2018 00:16:23 (GMT+3)   |   Sao Paulo

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) went from a BRL 640 million ($170 million) net loss in Q2 2017 to a BRL 1.1 billion ($316 million) net profit in Q2 this year, the company said on Wednesday, while releasing its quarterly results.

The company said net revenues in Q2 reached BRL 5.6 billion ($1.5 billion), 32 percent up, year-on-year.

Steel sales volumes in Q2 grew 13 percent, year-on-year, to 1.3 million mt, out of which 798,000 was supplied to the domestic market in the same period, 22 percent up, year-on-year. Iron ore sales volumes in Q2 improved 4 percent, year-on-year, to 8.1 million mt.

CSN posted a gross profit of BRL 1.5 billion ($414.8 million), 59 percent up, year-on-year. Adjusted EBITDA in Q2 was BRL 1.4 billion ($376.8 million), 58 percent up, year-on-year.

USD = BRL 3.77 (August 8)

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