The Brazilian steel and iron ore producer, CSN, posted a net loss of BRL 223 million ($40.8 million) for Q2 2024, against a net loss of BRL 480 million in Q1 2024.
Under a comparative basis, net sales revenues increased by 12 percent to BRL 10.79 billion, production costs increased by 4.9 percent to $7.89 billion, and the gross profit increased by 36 percent to BRL 2.99 billion.
According to the company, the net loss derives from higher financial expenses, coupled to higher taxes relative to the performance of its subsidiaries, despite the improved operational performance achieved during the period.
In volume, domestic sales of steel products increased by 9 percent to 798,000 mt, while steel exports declined by 8 percent to 326,000 mt.
Domestic iron ore sales declined by 16 percent to 859,000 mt, while iron ore exports increased by 22 percent to 9.933 million mt.
Considering the impact of the different areas of CSN activities on the EBITDA achieved in Q2 2024, steel production responded for 12.3 percent, mining for 60.1 percent, logistics for 15.6 percent, energy for 0.5 percent, and cement for 13.1 percent, without considering internal eliminations.
USD = BRL 5.46 (August 13)