CSN has profit of R $ 1.2 billion and record Ebitda in the 3rd quarter – Money Times

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CSN’s iron ore production reached 9.4 million tons in the third quarter of 2020, just below the volume registered a year ago (Image: Press Release / CSN)

A CSN (CSNA3) ended the third quarter of 2020 with net income of R $ 1.2 billion, according to the balance sheet released on Thursday (15). The company had a loss of R $ 871 million in the same period last year.

Net revenue increased by 45% in the annual comparison, with the value reaching R $ 8.7 billion.

Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) had a record of R $ 3.5 billion, an increase of 124% in relation to the amount of R $ 1.5 billion in the third quarter of 2019. According to CSN, the leap is due to a better combination of volumes, prices and costs in all segments.

The production of iron ore reached 9.4 million tons, just below the volume registered a year ago. The commodity’s sales were practically in line with last year’s results, totaling 9.2 million tons.

Sales of steel, on the other hand, showed an annual growth of 19%, with the total volume sold reaching 1.2 million tons (923 thousand tons for the domestic market and 355 thousand tons for the foreign market).

New projections

In parallel with the disclosure of results, CSN updated its projections for the indebtedness indicator. In a note sent to the market, the company said it expects to reach 2.5 times the net debt / adjusted EBITDA in 2021.

CSN pointed out that the information is an estimate and may change, as it involves market factors beyond its control.

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