12 de marzo de 2015 / 12:47 / en 3 años

RPT-UPDATE 1-Brazil steelmaker CSN swings to Q4 profit of $21.5 mln

(Adds EBITDA, net revenues and financial losses)

By Repeats to fix formatting

SAO PAULO, March 12 (Reuters) - Brazilian steelmaker Cia Siderurgica Nacional SA reported on Thursday a fourth-quarter net profit of 67 million reais ($21.5 million) but still ended 2014 with a loss of 112 million reais as it battled falling steel demand in Latin America’s largest economy.

In the fourth quarter of 2013, CSN posted a net loss of 487 million reais.

CSN said fourth quarter results were helped by its steelmaking division, where the company reduced costs in 2014 thanks to lower raw materials prices and by buying less third-party steel.

The company was also able to secure higher prices for its flat-rolled steel products.

Output of the company’s raw steel from its main Presidente Vargas plant was 4.5 million tonnes in 2014, unchanged from output in 2013, CSN said.

Consolidated net revenue for the company slipped 2 percent in the fourth quarter to 3.82 billion reais from a year ago, while revenues for all of 2014 fell 7 percent from the year earlier to 16.12 billion reais.

Adjusted earnings before interest, taxes, depreciation and amortization -- a measure of a company’s ability to generate cashflow known as EBITDA -- fell 12 percent to 4.73 billion reais in 2014 versus 2013.

Adjusted fourth-quarter EBITDA, however, rose 3 percent to 1.01 billion reais from a year ago due to improved results from its steel division.

The company said it suffered financial losses over the year and in the fourth quarter due to the appreciation of the dollar against the real. The dollar gained nearly 12 percent against the real in 2014.

The dollar has since gained another 17 percent since the start of 2015 and is now at an 11-year high against the real.

$1 = 3.12 reais Reporting by Walter Brandimarte and Reese Ewing; Editing by Toby Chopra and W Simon

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below