CSN Mineracao SA (BSP:CMIN3)

Q1 2026 CSN Mineracao SA Earnings Call Transcript

May 14, 2026 / 01:00 PM GMT

Release Date Price: R$4.77 (-1.04%)

Transcript

Key Points

Positve

CSN Mineracao SA (BSP:CMIN3) achieved a new production record for the first quarter with a growth of 6.7% compared to the first quarter of 2025.
The company set a new shipment volume record at the Tekar terminal with 8.72 million tons shipped.
CSN Mineracao SA (BSP:CMIN3) delivered an EBITDA margin of 44.9% in the first quarter of 2026, supported by lower C1 costs and a higher share of own production in sales.
The company recorded a significant reduction in COGS, reflecting lower purchase volumes and improved cost control.
CSN Mineracao SA (BSP:CMIN3) maintained a solid capital structure with a leverage ratio of 0.11 times, supporting its P15 capacity expansion projects.

Negative

The company experienced a decline in annual revenue, attributed to exchange rate fluctuations despite stable volume and prices.
CSN Mineracao SA (BSP:CMIN3) faced higher freight costs, impacting performance despite a better sales mix.
Adjusted cash flow was negative in BRL520 million in the first quarter, reflecting seasonality and higher working capital consumption.
The company encountered challenges due to intense rainfall, impacting operations and shipment limitations.
There was a decline in production volumes and inventories compared to the fourth quarter of 2025, attributed to the natural seasonality of the mining business.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CMIN3.SA - CSN Mineracao SA
Q1 2026 CSN Mineracao SA Earnings Call
May 14, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen. At this time, we would like to welcome everyone to CMIN's conference call to present the results for the first quarter 26. Today we have with us the company's executive officers. We would like to inform you that this event is being recorded and all participants will be in listen-only mode during the company's presentation.

Pursuing the company's remarks, we will go on to the Q&A session.

This event can be accessed at the IR site, ir.cmin.com.br, where the presentation is also available. The replay of this event will be available soon after closing.

Before proceeding, please bear in mind that some of the forward-looking statements are mere expectations or trends based on

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