SAO PAULO, Nov. 14, 2016 /PRNewswire/ -- CSN – Companhia Siderurgica Nacional (BM&FBOVESPA: CSNA3) (NYSE: SID) announces its results for the third quarter of 2016 (3Q16):
- R$1,239 million EBITDA generated, a 45% increase over 2Q16, with 26% EBITDA Margin.
- The Gross Profit registered RS1,311 million during 3Q16, 42% higher than 2Q16. The gross margin reached 30%, 9p.p. above 2Q16.
- Steel EBITDA of R$552 million, with 19% EBITDA margin, 49% higher than 2Q16, showing the recovery of the steel sector in the domestic market.
- Increase in steel sales in the domestic market. 62% participation vs. 53% during 2Q16.
- 8% steel price increase in the domestic market.
- Iron Ore Sales of 10.2Mt, 7% higher than 2Q16.
- Iron ore FOB price reached US$39/t, 28% higher than 2Q16.
- Mining EBITDA of R$599 million, with 46% EBITDA Margin, 64% higher than 2Q16.
- Adjusted net debt remained flat at R$25,842 million, while leverage fell by 0.9x, closing the quarter at 7.4x, versus 8.3x in 2Q16, thanks to increased EBITDA generation in the last 12 months.
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, November 14th, 2016, at 08:00 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
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SOURCE CSN - Companhia Siderugica Nacional