Companhia Siderurgica Nacional · BMFBOVESPA:CSNA3
Companhia Siderurgica Nacional — National Steel — Q2 2009 Earnings Presentation
8 slides from Companhia Siderurgica Nacional's earnings presentation, Aug 7, 2009
Slide 1: Consolidated Highlights
Consolidated Highlights 2Q08 1Q09 2Q09 2Q09 X 2Q08 (Chg%) 2Q09 X 1Q09 (Chg%) Crude Steel Production 1,291 1,087 -33% -20% Steel Sales Volume (thousand t) 1,327 -29% 47% Domestic Market 1,103 -28% 42% Exports -32% 83% Net Revenue per unit (R$/t) 2,012 2,372 1,960 -3% -17% Financial Data (RS MM) Net R
Slide 2: Production Costs (Parent Company)
Production Costs (Parent Company) CSN’s total production costs reduced to R$933 million in the 2Q09, a strong 35% decrease on the 1Q09 figure of R$1,438 million. The quarter-on-quarter reduction of R$505 million was basically due to the following factors: Raw materials – total cost of R$397 million
Slide 3: Sales
Sales Total Sales Volume CSN’s flat steel sales volume totaled 947,000 tonnes in the 2Q09, a hefty 47% growth on the previous quarter and 29% down year-on-year. Domestic Market Domestic sales came to 795,000 tonnes, 42 % up on the 1Q09 and 28% down on the 1.1 million tonnes recorded in the 2Q08. Eig
Slide 4: Prices
Prices As the effect of reduced prices and lower share of coated items in the product mix, net revenue per tonne averaged R$ 2,069 in the domestic market in the 2Q09, 14% down on the 1Q09 and 1% up year-on-year. Average net export revenue per tonne in Reais fell by 36% over the 1Q09, chiefly due to
Slide 5: Selling, General and Administrative Expenses
Selling, General and Administrative Expenses Selling, general and administrative expenses totaled R$321 million in the 2Q09, R$46 million up on the previous quarter, chiefly due to greater sales efforts and higher provisions for doubtful accounts.
Slide 6: Financial Result and Debt
Financial Result and Debt The 2Q09 net financial result was positive by R$204 million, chiefly due to the following factors: • Provisions for interest on loans and financing totaling R$255 million; • Monetary restatement of tax provisions in accordance with the SELIC rate, amounting to R$92 million;
Slide 7: Income Taxes
Income Taxes In the 2Q09, income tax and social contribution totaled R$274 million, R$189 million up on the 1Q09, chiefly due to higher taxable income in the quarter and the impact of the appreciation of the Real against the US dollar on income tax and social contribution in the period. The effectiv
Slide 8: Basis Performance: CSN x BOVESPA
Basis 100 Performance: CSN x BOVESPA 1,100 1,000 In the last 5 years, CSN shares appreciated by 429%, = three times the IBOVESPA’s appreciation of 143% 00 700 600 500 400 300 0 100 IBOVESPA SS Ce LS Le LE ES SS CS LE ES FALLS AL LS ES LE ES HE SS HES