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)


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