CSN – Companhia Siderúrgica Nacional (CSNA3) reversed a loss of R $ 871 million recorded in the third quarter of 2019 and recorded a net profit of R $ 1.262 billion between July and September 2020. The data were released on Thursday night ( 15), by the company.
Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) reached R $ 3.50 billion in the third quarter of 2020, an increase of 124% compared to the same period last year, or 82% higher than the previous quarter due to the combination of better volumes, prices and costs in basically all segments.
Net revenue between July and September was R $ 8.715 billion, 40% higher than that recorded in the second quarter of 2020 and 45% higher than that presented in the same period last year. The increase in revenue in the third quarter of this year was mainly due to the normalization of the volume of iron ore production, combined with higher prices for iron ore, cement and steel compared to the second quarter of this year.
This Thursday, CSN updated its projection of reaching multiples of approximately 2.5 times the net debt on Ebitda (interest before interest, taxes, depreciation and amortization) adjusted at the end of 2021.
In the previous estimate, released in July along with the balance sheet for the second quarter, the company saw a leverage of three times the net debt on adjusted Ebitda at the end of next year.
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