CSN(SID)

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CSN(SID) - 2023 Q1 - Quarterly Report
2023-03-30 16:00
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of March, 2023 Commission File Number 1-14732 COMPANHIA SIDERÚRGICA NACIONAL (Exact name of registrant as specified in its charter) National Steel Company (Translation of Registrant's name into English) Av. Brigadeiro Faria Lima 3400, 20º andar São Paulo, SP, Brazil 04538-132 (Address of principal executive office) Indicate ...
CSN(SID) - 2022 Q4 - Earnings Call Transcript
2023-03-09 19:42
Companhia Siderúrgica Nacional (NYSE:SID) Q4 2022 Earnings Conference Call March 9, 2023 9:30 AM ET Company Participants Marcelo Cunha Ribeiro - CFO and IR Executive Officer Marcelo Ribeiro - CFO Helena Guerra - Sustainability Director Benjamin Steinbruch - Chairman and CEO Conference Call Participants Rafael Barcellos - Santander Bank Daniel Sasson - Itau BBA Carlos de Alba - Morgan Stanley Thiago Lofiego - Bradesco BBI Operator At this time, we would like to welcome everyone to CSN Conference Call to rele ...
CSN(SID) - 2022 Q4 - Earnings Call Presentation
2023-03-09 14:52
4Q22 AND 2022 FINANCIAL RESULTS 2022 and 4Q22 FINANCIAL RESULT São Paulo, March 8, 2023 - Companhia Siderúrgica Nacional ("CSN") (B3: CSNA3) (NYSE: SID) discloses its fourth quarter of 2022 (4Q22) and 2022 yearly financial results in Brazilian Reais, with all financial statements consolidated in accordance with accounting practices adopted in Brazil issued by the Accounting Pronouncements Committee ("CPC"), approved by the Brazilian Securities and Exchange Commission ("CVM") and the Federal Accounting Counc ...
CSN(SID) - 2022 Q3 - Earnings Call Transcript
2022-11-01 23:05
Financial Data and Key Metrics - EBITDA dropped by 16% due to margin compression in the steel sector, driven by lower international steel prices and sequential price increases [8] - Net debt increased to BRL24 billion, with leverage rising to 1.7x, up from 1.0x last year, due to the LafargeHolcim acquisition and reimbursement of BRL4.8 billion [11] - Cash generation improved to BRL3.2 billion, offsetting investment period taxes, with a significant positive impact from working capital management [10][11] - CapEx guidance for 2022 was revised down from BRL34 billion to BRL3 billion due to delays in equipment delivery and a more cautious approach in a turbulent market [9][10] Business Line Performance Steel - Domestic steel volumes grew by 20%, driven by strong performance in construction, offsetting slower growth in automotive and white goods segments [14] - International steel prices dropped by 9%, leading to a compression in EBITDA margins to 16%, with EBITDA for the steel segment at BRL1.2 billion [15] - Production costs for slabs dropped by 8% in September compared to the quarterly average, signaling further cost reductions in Q4 [15] Mining - Mining production volumes increased, with a 20% growth in sales, offset by a significant drop in iron ore prices [16] - EBITDA margin remained stable at $19 per ton, supported by lower freight costs and operational enhancements [17] - Iron ore breakeven costs are competitive, with margins above $20 per ton despite lower slab prices [18] Cement - Cement volumes grew by 50% following the consolidation of LafargeHolcim's 10 plants in Brazil, now called CSN Cement Brazil [19] - EBITDA for cement increased from BRL160 million to BRL260 million, with margins expected to improve further in Q4 [20] Energy - The acquisition of Quebra-Queixo and CEEE-G transformed the energy business, with expected synergies reducing energy costs by BRL300 million annually, benefiting steel, mining, and cement operations [21][47] Market Performance - Domestic steel market is expected to reach 14.4-14.6 million tons in 2022, with a slight drop compared to 2021 [30] - International markets, particularly Germany and the US, showed strong profitability due to favorable energy hedges and low raw material costs [14][33] Strategic Direction and Industry Competition - The company is focusing on vertical integration and diversification, particularly in energy and cement, to enhance competitiveness and reduce costs [21][39] - Synergies from the LafargeHolcim acquisition are expected to drive significant EBITDA improvements in the cement segment, with plans to expand capacity and explore greenfield projects [39][41] - The company is prioritizing low-cost production and operational efficiency to navigate a challenging market environment [77][78] Management Commentary on Operating Environment and Future Outlook - Management highlighted the turbulent market conditions, particularly the impact of falling commodity prices and the slowdown in China, but emphasized the company's resilience and operational improvements [6][8] - The outlook for 2023 includes lower commodity prices, which will help maintain strong cash generation and control leverage [12] - The company is preparing for a highly competitive market by focusing on low-cost production and aggressive commercial strategies [77][78] ESG Performance - The company improved its ESG rating to 55 points, well above the global average of 20 points, and is conducting climate change scenario analyses to inform future decisions [22] - Renewable energy projects and dam de-characterization works are progressing, with zero fatalities reported in Q3 [23][24] Q&A Session Summary CapEx and Volume Guidance - CapEx for 2023 is still under review, with a focus on productivity gains in steel and growth in mining, while respecting liquidity and leverage constraints [28][29] - Domestic steel volume guidance for 2022 is 3.3 million tons, with total group volumes expected to reach 4.7 million tons [31] Leverage and Profitability - The company aims to maintain leverage below 1.95x, with plans to reduce it further through operational improvements and potential financial restructuring [38][72] - Cement profitability is expected to improve significantly, with synergies from the LafargeHolcim acquisition driving higher EBITDA margins [39][40] Energy Hedges and Acquisitions - Energy hedges in Germany are expected to expire gradually, with 25-30% of volumes hedged at favorable rates for 2023 [46] - The acquisition of CEEE-G is expected to reduce energy costs by BRL300 million annually, with half of the benefits accruing to the steel segment [47] Expansion and Cost Reduction - The company is investing in a new painting line for automotive and white goods, expected to be operational by Q1 2024, with a capacity of 160,000 tons per year [51] - Cost reductions in raw materials and operational enhancements are expected to improve margins in Q4, particularly in the steel segment [56]
CSN(SID) - 2022 Q2 - Earnings Call Transcript
2022-08-16 19:47
Companhia Siderúrgica Nacional (NYSE:SID) Q2 2022 Results Conference Call August 16, 2022 10:30 AM ET Company Participants Marcelo Cunha Ribeiro - CFO and IR Executive Officer Benjamin Steinbruch – Chairman and CEO Helena Guerra - Sustainability Director Conference Call Participants Isabella Vasconcelos - Bradesco BBI Daniel Sasson - Itau BBA Carlos De Alba - Morgan Stanley Operator Good morning, ladies and gentlemen, and thank you for holding. At this time, we would like to welcome everyone to CSN's confer ...
CSN(SID) - 2021 Q4 - Earnings Call Transcript
2022-03-10 20:15
Companhia Siderúrgica Nacional (NYSE:SID) Q4 2021 Earnings Conference Call March 10, 2022 9:30 AM ET Company Representatives Benjamin Steinbruch - Chairman, Chief Executive Officer Luis Martinez - Commercial Director Marcelo Cunha Ribeiro - Investor Relations Conference Call Participants Thiago Lofiego - Bradesco BBI Daniel Sasson - Itau BBA Carlos de Alba - Morgan Stanley Operator Good afternoon, and thank you for holding. At this time we would like to welcome everyone to CSN's conference call to present r ...
CSN(SID) - 2021 Q3 - Earnings Call Transcript
2021-11-04 20:17
Companhia Siderúrgica Nacional (NYSE:SID) Q3 2021 Earnings Conference Call November 4, 2021 10:30 AM ET Company Participants Marcelo Cunha Ribeiro – Investor Relations Executive Officer Benjamin Steinbruch – Chairman and Chief Executive Officer Edvaldo Rabelo – Cement Business Director Luis Martinez – Executive Director Conference Call Participants Daniel Sasson – Itau BBA Thiago Lofiego – Bradesco BBI Carlos de Alba – Morgan Stanley Rafael Barcellos – Santander Leonardo Correa – BTG Pactual Operator Good m ...
CSN(SID) - 2021 Q2 - Earnings Call Transcript
2021-07-28 20:55
Companhia Siderúrgica Nacional (NYSE:SID) Q2 2021 Earnings Conference Call July 28, 2021 10:30 AM ET Company Participants Marcelo Cunha Ribeiro - Investor Relations Executive Officer Helena Guerra - Head, Sustainability, Health, Safety & Environmental Affairs Luis Martinez - Executive Officer Edvaldo Rabelo - Cement Business Director Benjamin Steinbruch - President of Executive Board, Chairman & Chief Executive Officer Conference Call Participants Daniel Sasson - Itaú Leonardo Correa - BTG Pactual Caio Ribe ...