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CSN Posts Record Net Income for 2nd Quarter
08/16/2007 - Companhia Siderurgica Nacional reports net income of R$ 1.7 billion for the first half of 2007 - 129% more than in the first half of 2006 and a new six-month record for the company.
Companhia Siderurgica Nacional (CSN) reported net income of R$ 1.7 billion for the first half of 2007 — 129% more than in the first half of 2006 and a new six-month record for the company.
For the second quarter, net revenue also set a new quarterly record at R$ 2.97 billion.
The company recorded EBITDA of R$1.28 billion in the second quarter of 2007, 26% above the figure for the previous quarter, accompanied by an EBITDA margin of 43%. In June 2007, the parent company recorded an EBITDA margin of 52.5%, one of the highest in its history.
With the resumption of full production capacity at the Presidente Vargas Steelworks, crude steel output moved up from 0.4 million tonnes in the second quarter of 2006 to 1.3 million tonnes in the second quarter of 2007 — a massive increase of 240%.
Rolled-steel production reached 1.3 million tonnes in the second quarter, 60% more than in the second quarter of 2006 and 11% more than in the previous quarter.
Despite the 11.0% appreciation of the Brazilian Real over the last 12 months, CSN has achieved an average slab production cost around US$ 260/ton for the year to date.
