Companhia Siderurgica Nacional · BMFBOVESPA:CSNA3
Companhia Siderurgica Nacional — National Steel — Q1 2009 Earnings Presentation
9 slides from Companhia Siderurgica Nacional's earnings presentation, May 14, 2009
Slide 1: Return on Equity and Payout (%)
Return on Equity and Payout (%) 123% AN% 76% 2005 ©2006 ~=-2007_-—S «2008 ~— 1009" lm ROE —— Payout Ratio Return on Capital Employed 2007 2008-1009" Last 2 mente
Slide 2: Production Costs (Parent Company)
Production Costs (Parent Company) CSN’s total production costs came to R$1.44 billion in the 1Q09, R$92 million down on R$1.53 billion posted in the 4Q08, which was impacted by the positive effect of the reversal of the revaluation reserve (Law 11,638/07) booked along 2008 in the depreciation line.
Slide 3: Sales
Sales Total Sales Volume CSN’s flat steel sales volume totaled 643,000 tonnes in the 1Q09, 29 % and 54% down, respectively, on the 4Q08 and the 1Q08. Domestic Market Domestic sales came to 560,000 tonnes, 32 % down on the previous quarter and 50% down year-on-year, jeopardized by reduced demand for
Slide 4: Market Share by Product and by Segment
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Slide 5: Prices
Prices On the domestic market, net revenue per tonne averaged R$2,403 in the 1Q09, versus R$2,551 in the previous three months. The 6% downturn reflected the domestic price slide, partially offset by a better product mix. Average net export revenue per tonne in Reais fell by 19% over the 4Q08, chief
Slide 6: Selling, General and Administrative Expenses
Selling, General and Administrative Expenses Selling expenses totaled R$174 million in the 1Q09, R$73 million down on the previous quarter, chiefly due to lower sales volume and reduced expenses with provisions for doubtful accounts. General and Administrative expenses (G&A) fell by 20% to R$102 mil
Slide 7: Financial Result and Net Debt
Financial Result and Net Debt The 1Q09 net financial result was negative by R$39 million, chiefly due to the following factors: • Provisions for interest on loans and financing totaling R$291 million; • Monetary restatement of tax provisions according to SELIC rate, amounting to R$105 million; • Gai
Slide 8: Income Taxes
Income Taxes Income tax and social contribution totaled R$85 million in the 1Q09, chiefly due to the lower taxable income in the quarter. Net Income CSN posted a 1Q09 net income of R$369 million, 52% down on the 1Q08, primarily due to the decline in operating income. Capex CSN invested R$389 million
Slide 9: Performance: CSN x IBOVESPA
Performance: CSN x IBOVESPA SS 8 8 2 8 8 PPLE LLL L EO ELL EE BES ELE E