CSN – Companhia Siderúrgica Nacional – (CSNA3) recorded a net loss attributable to controlling shareholders of R$480 million in the first quarter of 2024, a reduction of 42% compared to the loss of R$823 million a year earlier.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was R$1.966 billion, an annual drop of 39%. This led to a drop in the adjusted EBITDA margin of 8.0 pp (percentage points), to 19.3%.
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Net revenue totaled R$9.713 billion in the first quarter of 2024, a reduction of 14.2% compared to the same period in 2023.
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Gross profit reached R$2.191 billion in the first quarter of 2024, a reduction of 33% compared to the same period in 2023, impacted by the weaker operational performance recorded in the period.
The net financial result was negative at R$1.125 billion in the first quarter of 2024, a 5% decrease over the financial losses in the same stage of 2023.
On March 31, 2024, the company’s net debt was R$33.431 billion, an increase of 11% compared to the same stage in 2023.
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The financial leverage indicator, measured by net debt/adjusted Ebitda, was 3.13 times in March/24, an increase of 0.68 pp compared to the same period in 2023.
CSN approves distribution of dividends
The CSN Board approved the distribution to shareholders of interim dividends from the profit reserve account, in the amount of R$950 million, corresponding to R$0.716389666 per share.
Dividends will be paid until May 29, 2024, and will be calculated and credited based on Shareholders’ positions on May 14, 2024.
Tags: CSN CSNA3 reduces losses #1st quarter announces R950 million dividends
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