CSN profits up 370% in Q4 2018
Feb, 21, 2019 Posted by datamarnewsWeek 201909
Companhia Siderúrgica Nacional (CSN) have announced fourth-quarter net profits of R$1.77bn for 2018, up 370% compared to the same period in 2017. Total net profits for the year leaped from R$10.3m in 2017 to R$5.074bn in 2018.
According to the company, revenue from the steel segment grew 9.7% and mining 57% in the fourth quarter of 2018. Revenue from logistics also grew 8.3%, energy remained stable and cement grew by 37%.
CSN said in a statement that it has concluded negotiations for the long-term supply of iron ore to Glencore. The transaction involves a prepayment of US$500m for the supply of 22m ton to Glencore for five years.
The following DataLiner graph shows the 10-year iron ore export trends of CSN.
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