CSN Announces Year-To-Date Net Income of R$1.7 Billion and EBITDA of R$3.5 Billion
SAO PAULO, Brazil, Nov. 3 /PRNewswire-FirstCall/ -- CSN (BOVESPA: CSNA3) (NYSE: SID) releases its third quarter 2005 results (3Q05), in accordance with Brazilian accounting principles and denominated in Reals. Highlights -- Two new production historical records; in August, 458.9 thousand tonnes produced in LTQ-2, and 6.05 thousand tonnes produced in the continuous painting line of CSN Parana. -- Sales in the quarter totaled 1,181 thousand tonnes, 44 thousand tonnes above the previous quarter. Exports as a share of total sales grew from 33% to 48%. -- Prices in the domestic market were flat and exports prices fell 20% in dollars terms. -- Year-to-date accumulated net revenue is 6% higher than the reported in the same period of the previous year, despite the 13% fall in net revenues for the quarter. -- Reduction of 7% in total production cost and 4% in unit cost. -- Purchase of 240 thousand tonnes of coke at an average price of US$151/t CIF, anticipating a lighter cost structure for 2006. -- Accumulated EBITDA of R$ 3.5 billion, 5% higher compared to the same period of 2004. Margin of 46.4% in 2005 compared to 46.8% in 2004 (9 months). In the parent company, margin of 50.1% and 50.8%, respectively, for the same comparison period. -- Net financial results improved from negative R$ 214 million in the 2Q to negative R$ 39 million in this quarter. -- Reduction of R$ 392 million in net debt, that remained at 1x EBITDA level. -- Net Income of R$517 million, 19% higher than the past quarter. Accumulated net income in 2005 was equivalent to 83% of the total result for the year of 2004. Conference Call Portuguese Presentation November 7, 2005 - Monday 8:00 am - US ET Phone:(11) 2101-1490 Code: CSN English Presentation November 7, 2005 - Monday 10:00 am - US ET Phone: (1-973) 582-2830 Code: CSN or 6662498 Webcast Live Webcast on http://www.csn.com.br For further information please contact Marcos Leite Ferreira; CSN - Investor Relations; (5511) 3049-7591; firstname.lastname@example.org; http://www.csn.com.br
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