CSN's Consolidated 9-Month Accumulated Net Income Exceeds 2003 Net Income and Reaches R$1.45 Billion.SAO Sa´o n. 1. (Zool.) Any marine annelid of the genus Hyalinæcia, especially H. tubicola of Europe, which inhabits a transparent movable tube resembling a quill in color and texture. PAULO, Brazil -- Companhia Siderurgica Nacional (CSN CSN Crosby, Stills, and Nash (band) CSN Centrala studiestödsnämnden (Swedish: state education grant and loan program) CSN Confédération des Syndicats Nationaux (French) ) (NYSE NYSE See: New York Stock Exchange : SID) (BOVESPA See Bolsa de Valores de Sao Paulo. : CSNA CSNA Classification Society of North America CSNA California School Nutrition Association CSNA California State Numismatic Association (Alameda, CA) CSNA Cardozo Shaw Neighborhood Association (Washington, DC) 3) announced today its third quarter results (3Q04), in accordance with accounting principles required by the Brazilian Corporate Law and denominated in Reais. The comments included in this press release, unless otherwise stated, refer to consolidated results with comparisons to the third quarter of 2003 (3Q03), except when otherwise indicated. Production: Output volumes in the third quarter of 2004 totaled 1.4 million tons of crude steel and 1.3 million tons of rolled finished products. In the first 9 months of 2004, the production of crude steel reached 4.1 million tons, up by 4%, while rolled finished products increased by 6% against the same period of 2003, totaling 3.7 million tons. These increases are the result of the Company's continuous efforts to improve productivity. Net Revenue: Consolidated net revenues in 3Q04 were 56% higher, reaching R$2,780 million. This performance was mainly due to a 68% increase in average prices, resulting from price increases in the domestic market, as well as in the international markets. Since export prices in the period remained higher, domestic sales accounted for 73% of the quarter's total net revenues, below the 76% of total volumes. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become : EBITDA in the third quarter totaled R$1,361 million, an 82% increase compared to the R$747 million reported in 3Q03. EBITDA margin was 49%, or 7 p.p. and 3 p.p. above 3Q03 and 2Q04, respectively. In the 9-month period, EBITDA increased by 49%, reaching R$3.4 billion with a 47% margin. This figure surpasses the 2003 FYE FYE For Your Entertainment FYE First Year Experience FYE Fiscal Year End FYE Funding Your Education FYE For Your Eyes (CSD-TV magazine) FYE For Your Enjoyment FYE Full Year Effect FYE First Year Enrichment FYE For Your Edification EBITDA by R$372 million. Net Income: As a result of the items previously mentioned, the Company's consolidated net income in 3Q04 reached R$694 million, 242% higher than the R$203 million recorded in the same period of the previous year, and 64% higher than in 2Q04. In the 9-month period, net income reached R$1.45 billion, up by R$735 million. Full press release and forward-looking statement are available on http://www.mzconsult.com.br/csn/rel3Q2004eng.pdf Conference Call in English: CSN will host a conference call to discuss 3Q04 results: November 11th, 2004 - Thursday 9:00 AM - US ET (1-973) 582-2734 Code: CSN or 5342041 Webcast: Live Webcast on www.csn.com.br |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion