Companhia Siderurgica Nacional announces its results for the third quarter of 2009. Net income totaled BRR 1.15 billion in the Q3 of 2009, up by 243% QoQ. In the first 9 months, net income stood at BRR 1.85 billion, also an improvement over the same period last year.
Steel product sales volume amounted to 1.32 million tonnes, 39% more than the Q2 of 2009. Crude steel production in the Q3 of 2009 came to 1.18 million tonnes, with rolled output of 1.32 million tonnes, 35% and 37% up, respectively, on the Q2 of 2009.
The average rolled steel unit production cost fell from BRR 964 per tonne in the Q2 of 2009 to BRR 784 per tonne in the Q3 of 2009, a hefty 19% reduction. Q3 of 2009 net revenue totaled BRR 3 billion, 20% more than the BRR 2.5 billion reported in the Q2 of 2009. Q3 of 2009 EBITDA stood at close to BRR 1 billion, a 36% improvement over the Q2 of 2009, with an EBITDA margin of 33%, up by 4 p.p. on the Q2 of 2009, further underlining the Company's margin recovery process.
In 2009 through September 30th 2009, CSN's shares appreciated by 100% on the Bovespa, the 10th largest upturn among those firms listed on the Ibovespa index, while its ADRs climbed by 155% on the NYSE, the 8th highest increase among all the Latin American ADRs listed on the New York Stock Exchange.
