Q4 2024 Companhia Siderurgica Nacional SA Earnings Call (English, Portuguese) Transcript
Key Points
- Companhia Siderurgica Nacional (SID) reported its strongest quarter of the year with significant EBITDA growth and cost control across all segments.
- The company achieved a historical high cash position, nearly reaching BRL25 billion, aiding in debt management.
- In the mining segment, SID reached production guidance and operational records despite adverse weather conditions, with a 35% price increase leading to an EBITDA margin above 50%.
- The steel segment saw a 10% increase in sales compared to the same period last year, with EBITDA margin reaching double digits for the first time in the year.
- The cement segment achieved a record EBITDA margin of 33%, the highest since acquiring LafargeHolcim, demonstrating strong operational efficiency and favorable pricing.
- The company's leverage increased due to exchange rate variations impacting dollar-denominated debt, offsetting operational improvements.
- Despite strong operational results, the fourth quarter saw a negative cash flow due to exchange rate effects and high investment volumes.
- The energy segment experienced a lower EBITDA due to system migrations post-acquisition, which is expected to stabilize in future periods.
- No dividends will be distributed in the first quarter of 2025 as part of the company's focus on deleveraging.
- The logistics segment faced a drop in invoicing and EBITDA due to seasonal business factors, although the annual performance was strong.
Good morning, ladies and gentlemen, and thank you for holding. We would like to welcome everyone to CSN's conference call to present results for the fourth quarter and full year 2024. 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 event at ri.csn.com.br, where the presentation is also available. The replay will be available after the conclusion.
Before proceeding, we would like to state that some of the forward-looking statements are expectations or trends and based on current assumptions and opinions of the company management. These performances and events may differ materially from those expressed herein as they do not constitute projections. In fact, actual results, performance, or events may differ materially from those expressed or implied by forward-looking statements as a result of several factors, such as general and economic conditions in Brazil and other countries; interest and exchange rate levels; future rescheduling, or prepayment of debt in foreign currencies
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