CSN Posts Record Net Revenue of R$8.1 Billion in 1H11

Aug 02, 2011, 19:42 ET from CSN - Companhia Siderugica Nacional

SAO PAULO, Aug. 2, 2011 /PRNewswire/ -- CSN - Companhia Siderurgica Nacional (NYSE: SID) (BM&FBOVESPA: CSNA3) announces its results for the 2Q11:

The full 2Q11 Earnings Release is available on CSN's IR website at www.csn.com.br/ir.

  • Net revenue totaled R$8.1 billion in 1H11, 15% more than in 1H10 and a Company record, and R$4.3 billion in 2Q11, 14% up year-on-year and also a record;
  • Gross profit reached R$1.8 billion in 2Q11, 18% higher than in 1Q11;
  • Adjusted EBITDA amounted to R$1.8 billion in 2Q11, a 16% improvement over the R$1.5 billion recorded in 1Q11, and R$3.3 billion in 1H11, 7% up on the R$3.1 billion posted in the first six months of 2010;
  • The adjusted EBITDA margin stood at 41% in the second quarter, higher than in 1Q11;
  • Consolidated net income amounted to R$1.1 billion in 2Q11, 85% more than in the previous three months, and R$1.8 billion in 1H11, 32% higher than in the same period last year;
  • Net revenue from mining reached the record figure of R$2.7 billion in 1H11, 110% up on 1H10, due to an iron ore sales volume of 13.3 million tonnes, also a record;
  • Consolidated steel product sales volume in the domestic market, where margins are historically higher, accounted for 86% of total sales volume in 2Q11;
  • CSN is a highly liquid company, with a cash position of R$11.7 billion.

CSN will be hosting conference calls about its 2Q11 Earnings TOMORROW, August 3, 2011, at 11:00 a.m. US ET in English and 9:00 a.m. US ET in Portuguese. Connection details may be obtained on the Company's IR website.

Investor Relations David Salama Head of IR Phone: +55 11 3049-7588 david.salama@csn.com.br

SOURCE CSN - Companhia Siderugica Nacional