Brazilian steelmaker Companhia Siderurgica Nacional (CSN) went from a net loss of BRL 56 million ($16.8 million) in Q4 2016 to a BRL 378 million ($113.6 million) net profit in Q4 2017, the company said on Tuesday while releasing its quarterly results.
As for the full year of 2017, the company reported a BRL 111.2 million ($33.4 million) net profit, up from a net loss of BRL 853 million ($256.4 million) in the same period of the year prior.
CSN said net revenues in Q4 reached nearly BRL 5 billion ($1.5 billion), 10 percent up, year-on-year.
Steel sales volumes in Q4 totaled 1.2 million mt, 6 percent up, year-on-year. Iron ore sales volumes in Q4 increased as well, from 9.1 million mt in Q4 2016 to 9.5 million mt in Q4 2017.
CSN said noted slab output in Q4 2017 reached 1.1 million mt, 17 percent up, year-on-year.
Adjusted EBITDA in Q4 2017 was BRL 1.2 billion ($360.3 million), 4 percent down, year-on-year.
USD = BRL 3.33 (March 27)