Brazilian steel and iron ore producer CSN posted a net profit of BRL 2.168 billion ($421.8 million) for 2022, representing an 84 percent decline from the BRL 13.596 billion achieved in 2021.
Net sales declined by 7.41 percent to BRL 44.36 billion, the cost of the products sold increased by 20.19 percent to BRL 31.05 billion and the gross profit declined by 39.71 percent to BRL 13.31 billion, while financial and other expenses have played a significant negative role in the company’s results, CSN said in a press release.
In volume, domestic steel sales declined by 3 percent to 3.077 million mt and exports of steel products declined by 8 percent to 1.313 million mt, while domestic iron ore sales declined by 11 percent to 4.355 million mt and iron ore exports increased by 3 percent to 29.192 million mt.
The EBITDA per area of activity, during the fourth quarter of 2022, was 25.0 percent to the steel area, 56.0 percent to mining, 9.6 percent to logistics, 8.5 percent to cement and 0.9 percent to logistics.
USD = BRL 5.14 (March 9)