The Brazilian steel and iron ore producer, CSN, reported a net loss of BRL 1.538 billion ($265 million) in 2024, against a net profit of BRL 402.6 million in 2023.
Net sales revenues declined by 3.9 percent to BRL 43.688 billion, the gross profit declined by 2.2 percent to BRL 11.697 billion, and the EBITDA declined by 14.1 percent to BRL 10.230billion.
A negative financial result of 5.814 billion was the main reason behind the negative profitability, reflecting high interest rates paid, coupled to the price devaluation of the shares of Usiminas held by CSN.
In volume, domestic sales of steel products increased by 13.2 percent to 3.273 million mt, while steel exports increased by 0.3 percent to 1.278 million mt.
Domestic iron ore sales declined by 19.1 percent to 4.041 million mt, while iron ore exports increased by 2.2 percent to 38.512 million mt.
Considering the impact of the different areas of CSN activity on the EBITDA achieved in 2023, steel production responded for 15.7 percent, mining for 56.7 percent, logistics for 14.9 percent, energy for 1.4 percent, and cement for 13.3 percent, without considering internal eliminations.
USD = BRL 5.80 (March 13)