February 1, 2023
Profit drops 47.6% to R$704 million in Q421 - Money Times

Profit drops 47.6% to R$704 million in Q421 – Money Times

CSN Mineração reported net income of R$704 million in the fourth quarter of 2021, down 47.6% (Photo: Pixabay/xusenru)

The CSN . Mining (CMIN3) registered Net profit from 704 million reais in the fourth quarter of 2021, down 47.6% compared to the same period in 2020, the company said on Wednesday (9).

According to the company, the decline occurred due to verified operational deterioration in that period. a Adjusted EBITDAWhich measures the operating result, was R$ 850 million, down 73.2%.

“The main factors responsible for the nominal decline in CSN Mineração’s EBITDA this quarter were a lower number of goods shipped; lower prices achieved; lower fixed costs, increased C1 and demurrage,” says CSN Mineração.

The Net revenue They totaled R$2.3 billion, a decrease of 47%. “The decline was a result of the combination of lower prices achieved with lower volumes of shipments, reflecting the same effects that affected production this quarter,” the miner says.

output from iron ore It was 6.9 million tons, down 10.08%. And for the third quarter of 2021, the decline was 33%.

“The decrease in production is due to the scheduled maintenance breaks made in November, as well as the reduced volume of raw materials purchases from third parties and the heavy rainfall especially in the states of Minas Gerais and Rio de Janeiro in October,” said CSN Mineração.

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