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Brazilian CSN Posted Record Net Revenue For The First Half 2011
= Domestic steel sales increase and mining segment contributed to strong results =
Brazilian major steelmaker Companhia Siderúrgica Nacional (CSN) announced its consolidated results for April - June 2011. According to the report, for the quarter, net revenue was R$4.323 billion and net income was R$1.137 billion. As a result, for the first half of 2011, net sales totaled R$8.112 billion and net income reached R$1.753 billion. Net sales achieved new records for both April - June quarter and the first half year. These strong results are due to the increase in domestic steel sales and increase in sales price and sales volume of mining segment.

For the quarter, CSN and its mining subsidiary Namisa's total sales of finished iron ore products totaled a record 6.7 million tonnes. Of this total, exports accounted for 6.3 million tonnes, with 2.3 million tonnes sold by Namisa, while the company's own consumption absorbed 1.7 million tonnes.

In the first half of the year, sales of finished iron ore products totaled 13.3 million tonnes, up 13% from the same period a year ago. Exports accounted for 12.4 million tonnes, with 6.0 million tonnes sold by Namisa, while the company's own consumption absorbed 3.4 million tonnes.
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last modified : Wed 10 Aug, 2011 [11:23]
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