Brazilian steel and iron ore producer CSN achieved a net profit of BRL 1.36 billion ($272.8 million) for Q1, 29 percent higher than in the previous quarter.
Net sales revenues increased by 14 percent to BRL 11.77 billion and the gross profit increased by 19 percent to BRL 4.48 billion, while the EBITDA increased by 27 percent to BRL 4.72 billion.
By volume, domestic steel sales increased by 9 percent to 754,000 mt, while steel exports increased by 21 percent to 402,000 mt.
Conversely, iron ore exports declined by 11 percent to 5.82 million mt and domestic sales of iron ore declined by 7 percent to 1.11 million mt, a downturn reflecting the heavy rains during Q1 hitting the southeastern region of Brazil, where mines and railroads of the company are located.
During the quarter, steel operations accounted for 67 percent of CSN net revenues and iron ore for 32.8 percent.