SAO PAULO, Aug. 15, 2016 /PRNewswire/ -- CSN – Companhia Siderurgica Nacional (BM&FBOVESPA: CSNA3) (NYSE: SID) announces its results for the second quarter of 2016 (2Q16):
- R$855 million EBITDA generated, a 17% increase over 1Q16, with 19% EBITDA Margin
- During June, the EBITDA reached R$320 million, showing a recovery in the domestic steel market and the mining segment
- Steel Sales of 1,253kt, a slight expansion over 1Q16
- Increased share of Coated Products, achieving 60% of the flat steel sales
- Iron Ore Production of 8.5Mt, with Sales of 9.3Mt
- Delivered Iron Ore Costs of US$28,2/wmt, against US$31,2/wmt in 1Q16 (-10%)
- Working Capital reduction of R$718 million during 2Q16, with a cash conversion cycle of 77 days, 24 days shorter than 1Q16
The full Earnings Release is available on CSN's IR website at www.csn.com.br/ir.
CSN will be hosting conference call about its 2Q16 Earnings on Tuesday, August 16th, 2016, at 10:00 a.m. (US ET) in Portuguese with simultaneous translation into English. Connection details may be obtained on the Company's IR website.
David Moise Salama
Investor Relations Executive Officer
Phone: +55 11 3049-7238
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/csn-announces-2q16-results-300313726.html
SOURCE CSN - Companhia Siderurgica Nacional