CSN’s net profit falls sharply in Q2 2022

Tuesday, 16 August 2022 18:32:57 (GMT+3)   |   Sao Paulo

Brazilian steel and iron ore producer CSN reported a net profit of BRL 369.3 million ($72.1 million) for the second quarter of 2022, against BRL 1.364 billion for the previous quarter.

Net sales revenues decreased by 10.2 percent to BRL 10.56 billion and the gross profit decreased by 33.0 percent to BRL 3.01 billion, while EBITDA decreased by 30.9 percent to BRL 3.262 billion.

By volume, domestic steel sales declined by 4.1 percent to 724,000 mt, while steel exports declined by 14.9 percent to 342,000 mt.

Conversely, iron ore exports increased by 15.2 percent to 6.707 million mt and domestic sales of iron ore declined by 22 percent to 867,000 mt.

During the quarter, steel operations accounted for 72.9 percent of CSN net revenues and iron ore for 24.7 percent.

USD= BRL 5.12 (August 16)

Similar articles

CSN expects improved results in Q3

17 Aug | Steel News

CSN posts higher net profit for the first quarter of 2022

06 May | Steel News

CSN Mineração sees net profit decline in Q4 2021

28 Mar | Steel News

Brazil’s CSN sees net profit decline in Q4 2021

10 Mar | Steel News

CSN, Gerdau and Usiminas to post weaker profits in Q4

13 Jan | Steel News

CSN posts increased profit and revenues in Q3

04 Nov | Steel News

CSN expects better performance in H2 2021

29 Jul | Steel News

CSN sees net profit and revenues increase in Q2

28 Jul | Steel News

CSN swings back to profit in Q1

29 Apr | Steel News

Brazil’s CSN sees profit surge in Q4 2020

23 Feb | Steel News