Record-breaking Q2 profit of R$ 2.501 bi for CSN Mineração

CSN Mineração’s net income in the second quarter reached R$ 2.501 billion, which represents an increase of 205% in one year. But the increase is only 6% compared to the first three months of 2021.

According to the mining company, which was founded in 2015 after the merger of CSN’s mining assets with Namisa, the Q2 results would have been even better if they had not been affected by the exchange rate variation registered in the last quarter, which ended up offsetting the strong operating result.

The adjusted EBITDA, which measures the operating result, was the highest ever recorded by the company. The indicator totaled R$4.956 billion, with a quarterly EBITDA margin of 67.5% or 0.5 percentage points above that recorded in the 1st quarter.

“The achievement attests not only to the exceptional timing of international iron ore prices but also to the strong cost and expense controls employed by CSN Mineração”, emphasizes the management.

Source: Money Times

To read the full original article, visit the link: https://www.moneytimes.com.br/csn-mineracao-tem-trimestre-recorde-e-soma-lucro-de-r-2501-bilhoes/

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