Companhia Siderurgica Nacional · BMFBOVESPA:CSNA3
Companhia Siderurgica Nacional — Q2 2019 Earnings Presentation
12 slides from Companhia Siderurgica Nacional's earnings presentation, Jul 31, 2019
Slide 1: Earnings Presentation – 2Q19
Steel Mining Cement Logistic Energy Earnings Presentation – 2Q19 July, 31st 2019
Slide 2: Highlights
HIGHLIGHTS – 1Q19 1 Adjusted 2Q19. EBITDA of R$2,380 million in Improving Mining’s historical EBITDA record, Operational reaching R$2,021 millions in 2Q19 Results 11 2 Debt roll-over consolidation with capital 22 markets, raising US$1,184 million in Bonds 23/26 (April) and Retap 23 (June). Reprofili
Slide 3: Consolidated Financial & Operational Indicators
Steel Mining Cement Logistic Energy Consolidated Financial & Operational Indicators
Slide 4: Evolution of Operating Results in 2Q19
EVOLUTION OF OPERATING RESULTS IN 2Q19 R$MM +68% 2,380 1,627 1,724 34% 1,420 1,560 25% 25% 24% 28% 2Q18 3Q18 4Q18 1Q19 2Q19 +38% 65 2,380 -51 1,724 762 -118 Ebitda 1Q19 Steel Mining Cement/Others Eliminations/ Ebitda 2Q19 Expenses 4
Slide 5: Financial Indicators
FINANCIAL INDICATORS Capex - R$MM Financial Cycle - days 461 69 64 58 313 263 2Q18 1Q19 2Q19 2Q18 1Q19 2Q19 Working Capital– R$MM Free Cash Flow – R$MM 1,546 3,344 3,425 2,959 933 856 1,525 145 681 788 21 2Q18 1Q19 2Q19 LLC Sale -547 Receipts Stocks Suppliers Others 2Q18 3Q18 4Q18 1Q19 2Q19 5
Slide 6: Leverage and Liquidity
LEVERAGE AND LIQUIDITY Leverage reduction with EBITDA improvement and iron ore prepayment deal (jul/19) Gross Debt, Net Debt and Cash (R$MM) -1,664 31,482 31,140 29,890 29,818 29,373 4,357 4,083 3,274 3,177 3,601 27,125 27,057 26,616 26,641 25,772 5.34x 4.93x 4.55x 3.65x 4.07x 3,52x 2Q18 3Q18 4Q18 1
Slide 7: Debt Amortization Schedule
DEBT AMORTIZATION SCHEDULE Current Debt Renegotiation Eliminates Refinancing Risk Financial initiatives ✓ Banco do Brasil (Jan18) Amortization Schedule – R$ billion ✓ Caixa (Jul18) Original¹ x After Rescheduling ✓ Bond 2023 (Fev18) ✓ Santander (Out18) ✓ 10th Debenture (Jan19) ✓ Caterpillar (Mar19) ✓
Slide 8: Business Highlights
Steel Mining Cement Logistics Energy Business Highlights
Slide 9: Steel Performance
STEEL PERFORMANCE Sales volume stable compared to the last quarter Sales Volume (thousand tons) Net Revenue (R$MM) and Average price (R$/ton) 19.4% 3,099 3,068 3,154 IABR 2Q19/1Q19 (monthly average) = 1% 4,093 3,605 3,660 1,321 1,290 1,181 1,175 1,161 378 523 (29%) 346 (40%) 364 390 2Q18 1Q19 2Q19 (
Slide 10: Mining Performance
MINING PERFORMANCE The sharp rise in iron ore prices, together with an increase in sales volume, quality premiums and lower costs, resulted in a 60% QoQ Ebitda increase in 2Q19 Net Revenue (R$MM) +49% Mining Sales Volume (thousand tons) 3,091 2,079 1,331 10.14 9.89 9.29 8.86 2Q18 1Q19 2Q19 8.13 EBIT
Slide 11: Mining Performance
MINING PERFORMANCE Capturing quality premiums, our CFR+FOB increased 20% to US$84.7/wmt, with realized prices increasing at the same rate as the Platts index +21% +19% +20% 100.1 +0.1 +2.8 103.0 84.7 2Q19 -9.5 -8.8 Platts62 Quotation Quality and Price CFR FOB Adjust Moisture Price 2Q19 (dmt) Period
Slide 12: Visit our website: www.csn.com.br
Visit our website: www.csn.com.br Investor Relations: Marcelo Ribeiro– CFO and IR Director Investor Relation Team: Leonardo Shinohara, Jose Henrique Triques, Sandra Saad, Eduardo Ito and Aleph Scalioni invrel@csn.com.br
Companhia Siderúrgica Nacional (CSN) — Q2 2019 Earnings Presentation on 6ix