Q4 2025 Usinas Siderurgicas de Minas Gerais SA USIMINAS Earnings Call Transcript
Key Points
- Usinas Siderurgicas de Minas Gerais SA (USNZY) achieved an adjusted consolidated EBITDA of BRL2 billion in 2025, marking a 24% increase compared to 2024.
- The company reported a record volume of iron ore sales totaling 9.6 million tons, a 14% increase from 2024.
- The steel unit sales remained stable, with expectations of a recovery in net revenue per ton driven by a more favorable sales mix and higher prices.
- Usinas Siderurgicas de Minas Gerais SA (USNZY) ended the year with a net cash position of BRL444 million, reflecting strong cash generation.
- The company has a sound debt profile with no extraordinary maturities until 2028, and a significant drop in net debt by BRL1.4 billion over the year.
- The company faced challenges due to unfair steel imports, impacting growth opportunities and job creation.
- Net revenue per ton decreased by 4%, despite a cost reduction in the steel units.
- The domestic market sales volume dropped by 3.3% in Q4, reflecting seasonality and a less favorable sales mix.
- The adjusted EBITDA was negatively impacted by a less favorable sales mix with lower-margin products.
- The company anticipates lower sales volumes in the mining unit due to the rainy season and prioritizing more profitable areas.
Good afternoon. Welcome to Usiminas conference call in which we will discuss the results for the fourth quarter and full 2025. I'm Leonardo Karam, IR Director at Usiminas. (Event Instructions) This conference call is being recorded and simultaneously broadcast on the Usiminas YouTube channel. Please note that this conference call is intended exclusively for investors and market analysts. We kindly ask you to identify yourself so that your question can be addressed. We also request that any questions from journalists be directed to Usiminas Media Relations at the email, [email protected].
Before proceeding, we would like to clarify that any statements made during this conference call regarding the company's business outlook as well as projections and operational and financial targets regarding its growth potential are forward-looking statements based on the management's expectations regarding the future of Usiminas. These expectations are highly dependent on the performance of the steel
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