CSN posts stronger Q3 results

Friday, 16 October 2020 20:21:07 (GMT+3)   |   Sao Paulo

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) posted stronger Q3 results when compared to Q2 this year, as predicted by analysts. CSN said net profit in Q3 surged 182.9 percent, quarter-over-quarter, to BRL 1.26 billion (224 million), up from BRL 446 million ($79.1 million) in Q2 this year. CSN had posted a net loss of BRL 871 million ($154.6 million) in Q3 2019.

The company said net revenues in Q3 rose 45.1 percent, year-over-year, and 40 percent, quarter-over-quarter, to BRL 8.7 billion ($1.5 billion). Steel sales volumes in Q3 this year reached 1.27 million mt, 19 percent up, year-over-year, and 27 percent up, quarter-over-quarter, from 1 million mt in Q2 this year.

CSN said adjusted EBITDA in Q3 was BRL 3.50 billion ($622.6 million), 124 percent up, year-over-year, and 82 percent up, quarter-over-quarter.

USD = BRL 5.63 (October 16)

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