Brazilian steel and iron ore producer CSN achieved a net profit of BRL 402.6 million ($81.5 million) for 2023, against BRL 2.17 billion in 2022.
Under the same comparative basis, net sales revenues increased by 2.4 percent to BRL 45.44 billion, production costs increased by 7.8 percent to BRL 33.48 billion, the gross profit declined by 10.1 percent to BRL 11.96 billion and the operational profit declined by 32.1 percent to BRL 7.64 billion.
Sales expenses and a negative financial result were the main drivers for the reduced net profit, negatively impacting the result by a combined BRL 1.77 billion.
In volume, domestic sales of steel products declined by 6 percent to 2.89 million mt, while steel exports declined by 3 percent to 1.32 million mt.
Domestic iron ore sales increased by 21 percent to 4.14 million mt, while iron ore exports increased by 29 percent to 37.69 million mt.
Considering the impact of the different areas of CSN activity on the EBITDA achieved in 2023, steel production responded for 9 percent, mining for 76 percent, logistics for 10 percent, energy for 1 percent and cement for 7 percent, without considering internal eliminations.
USD = BRL 4.94 (March 7)