Brazil · Delayed Price · Currency is BRL CSN Mineração Earnings Call Transcripts
Fiscal Year 2026
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Record own production and shipments drove margin expansion despite weather and freight headwinds. Revenue declined year-over-year due to exchange rates, but net income turned positive and leverage remains low. Strong guidance for increased third-party purchases and continued high dividends.
Fiscal Year 2025
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Record production and sales drove strong revenue and EBITDA in 2025, with cost discipline and logistics improvements supporting results. Despite a year-over-year net income drop due to FX, guidance was exceeded and optimism remains for 2026 amid ongoing CapEx and robust market demand.
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Record production and sales drove a 57% sequential and 74% year-over-year EBITDA increase, with net income up fivefold. Guidance for 2025 and 2026 volumes is strong, dividend payout remains high, and expansion projects are on track amid robust market demand and efficient cost management.
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Record production and sales drove strong Q2 results, with cost control offsetting lower iron ore prices. Net income rebounded, CapEx accelerated for the P15 project, and guidance remains on track amid market uncertainty tied to China.
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EBITDA grew 27.1% year-over-year with record sales and strong operational performance, but a BRL 1 billion exchange rate loss led to a net loss. Expansion projects and dividend payouts remain on track, with cost guidance maintained and a robust net cash position.
Fiscal Year 2024
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Achieved record own production and exports, with Q4 net income up 352% and strong EBITDA margins. Outlook remains positive with stable iron ore prices, rising CAPEX, and robust cash position, while managing risks from tariffs and market volatility.
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Record sales and operational efficiency drove cost reductions, but lower iron ore prices led to a decline in revenue and EBITDA. Major investments in the P15 project and strategic partnerships support future growth, while guidance for cost and volume remains on track.
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Record own production and sales drove a 44% sequential EBITDA increase and net income nearly tripled, despite lower iron ore prices. Strong cash flow, cost reductions, and robust capital structure support ongoing expansion and dividend policy.