CSN Announces Net Income Of R$424 Million in the Second Quarter, 264% Higher Than in the Same Period of 2003.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) today announced its second quarter (2Q04) and first half (1H04) results, in accordance with accounting principles required by the Brazilian Corporate Law and denominated in Reais. The comments herein, unless otherwise stated, refer to such consolidated results with comparisons to the second quarter of 2003 (2Q03) and to the first half of 2003 (1H03). Production: Output volumes in the second quarter of 2004 totaled 1.4 million tons of crude steel and 1.2 million tons of rolled finished products. In 1H04, the production of crude steel reached 2.7 million tons, equivalent to a 4% increase, while rolled finished product also increased by 4%, reaching 2.4 million tons. These increases are the result of continuous efforts to improve productivity. Net Revenue: Sales volumes of finished products and slabs reached 1.4 million tons in the quarter, up 20% compared to the same period of last year. In the domestic market, sales rose 11%, representing 63% of total Sales in the quarter. In the same comparison, export Sales increased by 40%. In 1H04, we highlight the 12% increase in total volume, and 19% higher export sales. 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 reached R$1,180 million in the second quarter, a 61% increase compared to the R$735 million registered in the same period of last year. Compared to 2Q03, EBITDA margin was stable at 46%, but it was 1.3 p.p. up first quarter margin. In 1H04, EBITDA was over R$2 billion, with a 46% margin, representing a 32% increase. Net Income: As a consequence, consolidated net income was R$424 million in the 2Q04, 264% higher than the net income of R$116 million registered in the same period of 2003, and 27% higher than 1Q04. In 1H04, net income reached R$757 million, a R$244 million increase over 1H03. Full press release and forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are available on http://www.mzconsult.com.br/csn/rel022004engfinal.pdf
English Conference Call
CSN conference call to discuss 2Q04 results:
July 30 - 1:00 p.m. EST
International: +1 (973) 582-2734
Conference Call ID: CSN or 5009721
Webcast
Live Webcast: www.csn.com.br
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion