Companhia Siderurgica Nacional · BMFBOVESPA:CSNA3
Companhia Siderurgica Nacional — Q4 2020 Earnings Presentation
14 slides from Companhia Siderurgica Nacional's earnings presentation, Feb 23, 2021
Slide 1: Earnings Presentation – 4Q20
Steel Mining Cement Logistics Energy Earnings Presentation – 4Q20 February 23th, 2021
Slide 2: Highlights – 4Q20
HIGHLIGHTS – 4Q20 1 QUARTERLY RECORD with an adjusted EBITDA at R$4,738MM, as a result of better prices and strict cost control. Achieving a 47% margin Fazer bem 2 2 Cash generation record from operational improvement and working capital Fazer mais management, providing a strong R$5bi Fazer para sem
Slide 3: Consolidated Operational & Financial Indicators
Steel Mining Cement Logistics Energy Consolidated Operational & Financial Indicators
Slide 4: Adjusted EBITDA Evolution in 4Q20
ADJUSTED EBITDA EVOLUTION IN 4Q20 Strong increase in EBITDA with positive contribution from Steel, Mining and Cement segments 47% 39% 37% 30% 28% 24% 24% +4,249 (+59%) 11,500 7,251 3,506 4,738 1,580 1,331 1,925 4Q19 1Q20 2Q20 3Q20 4Q20 2019 2020 Adjusted Mg. EBITDA % Adjusted EBITDA +1,232 (+35%) 4,
Slide 5: Financial Indicators
FINANCIAL INDICATORS Capex (R$MM) Net Working Capital (R$MM) -R$304MM 3,639 3,317 3,013 2,215 1,698 353 367 459 519 1Q20 2Q20 3Q20 4Q20 2019 2020 4Q19 3Q20 4Q20 Accounts Recivable Inventory Suppliers Other Adjusted Cash Flow (R$ MM) Adjusted Cash Flow¹ 4Q20 (R$ MM) 8,446 4,738 719 (519) 3,750 (162)
Slide 6: Leverage and Liquidity
LEVERAGE AND LIQUIDITY Strong cash generation and exchange rate variation leading to leverage at 2.2x, lowest level in 10 years Net Debt Build-up (R$Bi) -5 (-16.3%) (3.8) 0.2 (2.1) 0.5 0.2 0.0 30.6 25.6 Net Debt Free Cash Glencore ∆ Currency Other Incurred ∆ MRS Net Debt Flow Advances Interests Debt
Slide 7: Debt Amortization Schedule
DEBT AMORTIZATION SCHEDULE The resources from CMIN’s IPO will support CSN’s debt amortization plan, with the aim of materially reduce payments over the next 5 years. Position 12/31/20 Average term: 42 months Cash Coverage Gross Debt¹: R$35.4Bi 25 months Net Debt: R$20.8Bi 10,400 Net Debt/EBITDA: 2.2
Slide 8: Business Highlights
Steel Mining Cement Logistics Energy Business Highlights
Slide 9: Steel Performance
STEEL PERFORMANCE Average steel price providing strong growth in profitability despite volume limitation, +19% higher in DM compared with previous quarter Net Revenue (R$MM) and Average Domestic Sales Volume (Thousand tons) Market Price (R$/ton) 19.4% 4,226 +19% +3% 3,557 3,109 4,525 4,651 +11% 1,44
Slide 10: Steel Competitiveness
STEEL COMPETITIVENESS Rising production in the quarter with the return of AF#2, though affected by unscheduled stoppages. Controlled costs despite strong rise in raw materials Slab Cost 478 438 Slab Production Volume at UPV 399 (Thousand tons) +7% +13% +2% 2,116 2,397 3,552 1,977 3,497 4Q19 3Q20 4Q2
Slide 11: Mining Performance
MINING PERFORMANCE EBITDA reaching new levels with high price levels, which offset lower volumes due to operating constraints Net Revenue (R$MM) 96 Total Sales Volume (million tons) 78 50 +16% 38.55 3,861 4,488 2,522 31.16 4Q19 3Q20 4Q20 Net Revenue per Unit (US$/t) Net Revenue Adj. EBITDA (R$MM) an
Slide 12: Performance de Cimento
PERFORMANCE DE CIMENTO CSN Cimentos was able to show higher sales growth than the market, with better prices and cost control leading to record results Net Revenue (R$MM) Sales LTM - Domestic Market – Brazil (Mt) (preliminary industry sales and market estimates) +8% Cumulative 281 259 Growth -9% -11
Slide 13: Social and Environmental Management
SOCIAL AND ENVIRONMENTAL MANAGEMNET WATER AND DAMS SAFETY 100% of our processes are Reduction of 19% in the independent of the use of tailings Frequency Rate of reportable dams. The decharacterization accidents (CAF+SAF) in 2020, process of our Tailings Dams lower historical level. already ongoing.
Slide 14: Visit our website: www.csn.com.br
Visit our website: www.csn.com.br Investor Relations: Marcelo Ribeiro – CFO and IR Director Investor Relations Team: Jose Henrique Triques and Danilo Dias invrel@csn.com.br
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