Sao Paulo Brazil headquartered Companhia Siderurgica Nacional announced that while beginning of 2022 was marked by a challenging scenario due to heavy rainfall in the Southeast region and pressures on coal and coke costs, CSN was able to deliver an excellent result, with EBITDA of BRL 4.7 billion and EBITDA margin of 39.1%, representing a growth of 4.2 pp compared to the previous quarter. Its net revenue in January-March 2022 quarter totaled BRL 11,770 million, up 13.6% QoQ & down 1.2% YoY due to improvement of the mining segment that showed a strong price recovery in the period, in addition to higher volumes sold in the steel market. However, there was a 22% decline in gross profit, which reflects not only the operational difficulties observed in the quarter with an above-normal rainfall volume, but also higher costs in the annual comparison and the financial result was negative at BRL 1,125 million, representing an increase of 145% compared to the previous quarter, as a consequence of higher debt costs and the devaluation of Usiminas shares at the end of the quarter.On the other hand, total sales reached 1.157 million tonne in the first quarter of 2022, a volume 13% higher compared to that recorded in the fourth quarter of 2021. Domestic sales totaled 754,000 tonnes of steel products, 21% higher than 4Q21, which reinforces the successful strategy to capture market share initiated in the previous quarter, in addition to signaling a sustainable recovery after a more measured start to the year. Of this total, 691,000 tonnes refer to flat steel and 63,000 tons to long steel. In the foreign market, sales totaled 402,000 tonnes, a volume 20.8% QoQ higher. During the quarter, 38,000 tonnes were exported directly, and 364,000 tonnes were sold by subsidiaries abroad, 53,000 tonnes by LLC, 223,000 tonnes by SWT and 88,000 tonnes by Lusosider.In relation to total sales volume in Q1 of 202222, the distribution (+43%) and civil construction segments (+14%) were the main positive highlights of the period, offsetting the weaker start to the year observed in the home-appliances and metal packaging sectors.