Brazil’s Companhia Siderúrgica Nacional (CSN) has released its results for 2Q14. Gross profit increased by 26% y/y to reach R$1.3 billion, while adjusted EBITDA also came in at R$1.3 billion, 19% higher than in 2Q13. Consolidated net revenue totalled R$4.052 billion, compared to R$4.060 billion in the corresponding period in 2013.
CSN sold 564 000 t of cement during the quarter, achieving a net revenue of R$113 million. The cement business recorded an adjusted EBITDA of R$34 million and a record adjusted EBITDA margin of 30%.
Aside from cement, CSN operates four other business segments: steel, mining, logistics and energy. For the steel segment, the adjusted EBITDA margin came in at 28%, an improvement on both 2Q13 and 1Q14. Net revenue from the group’s mining operations rose by 14% y/y to R$1.117 billion. Adjusted EBITDA grew 11% y/y to R$442 million. Sales of finished iron ore products grew from 6 million t in 2Q13 to 7.2 million t in 2Q14.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/the-americas/05082014/csn-results-highlights-2q14-235/