Brazil steelmaker Companhia Siderurgica Nacional (CSN) posted a BRL 2.3 billion net profit in Q4, reverting a BRL 533 million net loss reported in Q3, the company said Tuesday.
CSN said the earnings, which diverged from other Brazilian steelmaker results in the same quarter, were due to the company’s mining operations revenues. As for the full year of 2015, CSN posted a BRL 1.6 billion net profit, reverting the BRL 112 million net loss it reported in the year prior.
CSN’s net sales in Q4 declined 7 percent, quarter-on-quarter, to BRL 3.6 billion. The company’s gross profit in Q4 diminished 18 percent in the same basis of comparison to BRL 767 million, while adjusted EBITDA in Q4 was BRL 686 million, 20 percent down, quarter-on-quarter.
CSN’s iron ore sales volumes fell 12 percent in Q4, quarter-on-quarter, to 6.6 million mt, while steel sales in the same period diminished 5 percent, quarter-on-quarter, to 1.1 million mt.