CSN Mineração sees net profit decline of 45 percent in Q3

Monday, 08 November 2021 23:27:18 (GMT+3)   |   Sao Paulo

CSN Mineração, the iron ore business of Brazilian steelmaker Companhia Siderurgica Nacional (CSN), saw its net profit in Q3 this year decline 45 percent, year-over-year, to BRL 804 million ($144.9 million), the company said.

CSN Mineração said net revenues in Q3 totaled BRL 2.78 billion ($501.5 million), which is down by 29 percent, year-over-year.

The company also said iron ore sales volumes in Q3 declined 11 percent, year-over-year, to 8.18 million mt.

Gross profit in Q3 fell 70 percent, year-over-year, to BRL 784 million ($141.2 million).

CSN Mineração said adjusted EBITDA in Q3 was BRL 911 million ($164.1 million), 66 percent down, year-over-year.

Adjusted EBITDA margin in Q3 dropped to 32.73 percent, from 67.74 percent in Q3 2020.

$ = BRL 5.55 (November 8, 2021)

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