CSN Records Net Income of R$1.15 Billion, Sales Volume Moves up by 39% and the EBITDA Margin Widens to 33% in the 3Q09

Wednesday, November 04, 2009 5:47 AM

Nov. 4, 2009 (PR Newswire) -- SAO PAULO, Nov. 4 /PRNewswire-FirstCall/ -- Companhia Siderurgica Nacional CSN (BOVESPA: CSNA3) (NYSE: SID) announces today its results for the 3Q09:

    --  Net income totaled R$1.15 billion in the 3Q09, 243% up on the R$335
million recorded in the previous quarter. In the first nine months, net
income stood at R$1.85 billion, also an improvement over the same period
last year;

    --  Steel product sales volume amounted to 1.32 million tonnes, 39% more
than the 2Q09;

    --  Crude steel production in the 3Q09 came to 1.18 million tonnes, with
rolled output of 1.32 million tonnes, 35% and 37% up, respectively, on
the 2Q09;

    --  The average rolled steel unit production cost fell from R$964/t in the
2Q09 to R$784/t in the 3Q09, a hefty 19% reduction;

    --  3Q09 net revenue totaled R$3.0 billion, 20% more than the R$2.5 billion
reported in the 2Q09;

    --  3Q09 EBITDA stood at close to R$1.0 billion, a 36% improvement over the
2Q09, with an EBITDA margin of 33%, up by 4 p.p. on the 2Q09, further
underlining the Company's margin recovery process;

    --  In 2009 through September 30, CSN's shares appreciated by 100% on the
Bovespa (Brazil), the 10th largest upturn among those firms listed on
the Ibovespa index, while its ADRs climbed by 155% on the NYSE, the 8th
highest increase among all the Latin American ADRs listed on the New
York Stock Exchange;

    --  CSN closed the 3Q09 with a market cap of US$22.3 billion, the highest
figure of any steel manufacturer in the Americas;

    --  Also at the end of the 3Q09, ROE stood at 91%, considering net income in
the last 12 months, growth of 23 p.p. over the previous quarter;

    --  In September 2009, through its wholly-owned subsidiary CSN Islands XI
Corporation, CSN effected a US$750 million bond issue at 6.875% p.a.,
maturing in 10 years.

The full 3Q09 Earnings Release is available on CSN's IR website at www.csn.com.br/ir

CSN will be hosting conference calls about its 3Q09 Results TODAY, November 4, 2009, at 9:00 a.m. US EST in English and 7:00 a.m. US EST in Portuguese. Connection details may be accessed on the Company's IR website.

SOURCE Companhia Siderurgica Nacional

(Source: iStockAnalyst )

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