Q1 2025 CSN Mineracao SA Earnings Call (English, Portuguese) Transcript
Key Points
- CSN Mineracao SA (BSP:CMIN3) reported a 27.1% growth in EBITDA, reaching BRL1.4 billion with a margin of 41.8%, indicating strong operational performance.
- The company achieved a new sales record with a 5.4% increase in sales volume, demonstrating operational excellence without adding capacity.
- Production volume and purchase of iron ore increased by 11.5% year-over-year, showcasing greater operational efficiency.
- The company reported a significant reduction in C1 cost by 11%, reaching $21 per ton, which positively impacted the adjusted free cash flow of BRL546 million.
- CSN Mineracao SA (BSP:CMIN3) announced a payout of dividends amounting to BRL1.9 billion, reflecting a strong commitment to returning value to shareholders.
- CSN Mineracao SA (BSP:CMIN3) recorded a net loss of BRL357 million, a significant decline from a net profit of over BRL2 billion in the previous quarter, primarily due to exchange rate variations.
- The company's net working capital was negative by BRL188 million, indicating potential liquidity challenges.
- There was a 7.3% drop in production volume compared to the fourth quarter of '24, attributed to a smaller volume of purchases.
- The company experienced a 4.8% increase in COGS quarter-on-quarter, driven by higher road transportation costs for domestic market purchases.
- Despite a strong cash position, cash and cash equivalents decreased by 5.9% compared to the previous quarter, reflecting the impact of exchange rate variations.
Good morning, ladies and gentlemen. At this time, we would like to welcome everyone to CSN Mining for the earnings results for the first quarter '25. Joining us today are the company's executive officers. We would like to inform you that this event is being recorded. (Operator Instructions) You can access this at and csn.com.br/ir, where the presentation is also available. The replay of the service will be on the website.
Before proceeding, we would like to state that some of the forward-looking statements are mere expectations and trends and based on the current assumptions and opinions of the company management. Future results, performance and events may differ materially from those expressed herein, which do not constitute projections. Actual results, performance or events may differ materially from those expressed or implied by forward-looking statements as a result of several factors, general and economic conditions in Brazil and other countries, interest rates and exchange rate levels, future rescheduling or prepayment of debt, debt in foreign currencies, protectionist measures in the US,
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