Brazilian steelmaker Companhia Siderurgica Nacional (CSN) went from a BRL 777 million ($238 million) net loss in Q1 2016 to a BRL 118 million ($36.1 million) net profit in Q1 2017, the company said this week, while releasing its delayed quarterly results.
CSN said net revenues in Q1 this year rose 10 percent year-on-year, but fell 2 percent quarter-on-quarter, to BRL 4.4 billion ($1.35 billion).
Steel sales volumes in Q1 reached 1.1 million mt, 4 percent down year-on-year, but 1 percent up quarter-on-quarter.
Iron ore sales volumes in Q1 dropped 13 percent, year-on-year, and 21 percent, quarter-on-quarter, to 7.2 million mt.
CSN posted an adjusted EBITDA of BRL 1.3 billion, up 82 percent year-on-year, and up 7 percent quarter-on-quarter.
USD = BRL 3.27 (October 30)