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Brazil's CSN posts $131 million bottom line in Q3

Brazilian steelmaker and miner CSN reported a thirdquarter bottom line of 750.9 million reais ($ 130.6 million) on Wednesday, a sharp decline from the 91 million reais revenue tape-recorded a year earlier.

WHY IT is very important

CSN is among Brazil's biggest steelmakers and miners.

BY THE NUMBERS

The steelmaker reported 2.28 billion reais in adjusted revenues before interest, taxes, depreciation and amortization for the 3rd quarter, down 18.9% from a year earlier

It published gross earnings of 2.73 billion reais, down 3%. year-on-year, and stated net profits fell 0.5% to 11.07 billion. reais. Its steel and iron ore sales in the period increased 14.5% and. 2.1%, respectively.

KEY PRICES ESTIMATE

CSN stated in the filing that its bottom line was down to a. combination of a lower operating earnings and greater expenses.

The steelmaker associated its lower core profits to aspects. beyond its control, citing worldwide costs, generally in. mining in the middle of a series of unpredictabilities regarding Chinese. need.

On the other hand, the strong commercial performance. provided in the period shows that CSN is well placed to. continue with solid arise from now on, it added.

(source: Reuters)