Companhia Siderúrgica Nacional (CSN) opera como un fabricante de acero integrado, con una presencia significativa en Brasil y América Latina. Sus operaciones ...
Companhia Siderúrgica Nacional (CSN) is one of Brazil’s best-known industrial groups, founded in 1941 in São Paulo. It is widely regarded as a leading integrated flat-steel producer in Brazil and a significant player across Latin America. CSN’s business model is built around vertical integration: rather than relying solely on third-party ...Companhia Siderúrgica Nacional (CSN) is one of Brazil’s best-known industrial groups, founded in 1941 in São Paulo. It is widely regarded as a leading integrated flat-steel producer in Brazil and a significant player across Latin America. CSN’s business model is built around vertical integration: rather than relying solely on third-party raw materials, the group connects upstream mining inputs with downstream steelmaking and value-added products, and it further supports distribution through logistics and port infrastructure.
From a product and services perspective, CSN’s steel segment focuses on diversified flat steel offerings for industrial and infrastructure demand. Its product portfolio includes slabs (with a range of carbon and alloy specifications), hot-rolled and cold-rolled coils and sheets, galvanized products, and tin mill products (flat-rolled low-carbon steels used for packaging and industrial applications). CSN also manufactures structural steel shapes such as profiles and channels, serving construction and rail/sleeper-related needs. Customers span industries such as packaging, automotive supply chains, home appliances, distribution, and construction.
Upstream, CSN operates iron ore mines and produces limestone and dolomite, which are key materials for steelmaking and blast furnace/industrial processes. Complementing mining, the company’s logistics platform—supported by its own railway and port infrastructure—aims to reduce supply friction and improve control over transport costs, lead times, and export readiness. In parallel, CSN’s cement operations supply a broad set of construction-related customers, including construction material stores, home centers, concrete producers, construction companies, mortar industries, and manufacturers of construction artifacts.
CSN also participates in energy generation through a mix that includes thermoelectric co-generation and hydroelectric plants, supporting industrial competitiveness by addressing part of its power and steam needs. In steelmaking and cement, major cost drivers typically include raw material sourcing (iron ore, fluxes, scrap where applicable), energy/power, consumables, freight/logistics, labor, and maintenance/overhauls of heavy industrial assets. While exact line-item costs are not provided in the supplied data, CSN’s integrated footprint is designed to mitigate volatility in input availability and transport.
Key leadership information available from the provided sources indicates that Benjamin Steinbruch serves as CEO. CSN’s scale is reflected in the large workforce reported by the data source (around 29,664 full-time employees), consistent with a heavy-industry operator spanning multiple segments. Overall, CSN’s strategy centers on maintaining integrated production capabilities (steel + mining + logistics + energy + cement) to serve domestic infrastructure and industrial demand while remaining active in international markets through exports.
Plutux no es un asesor de inversiones. Los datos de mercado y el análisis generado por IA son solo informativos y educativos, no asesoramiento de inversión. Aviso legal
InteranualYoY significa Year-over-Year (interanual). Compara el último valor anual con el valor anual anterior para mostrar la fortaleza de la tendencia a largo plazo.
TrimestralQoQ significa Quarter-over-Quarter (intertrimestral). Compara el último trimestre con el trimestre inmediatamente anterior para mostrar cambios de impulso a corto plazo.
IngresosEl dinero total que entró por la puerta principal al vender cosas, antes de pagar una sola factura. Piensa en esto como el gran total de cada compra con tarjeta de los clientes. (YoY compara el rendimiento de este año con el del año pasado, mientras que QoQ compara los tres meses actuales con los tres anteriores).
$43.9B
+0.5%
+8.7%
Beneficio netoEl resultado final absoluto. Si la empresa pagara a cada proveedor, empleado, banquero y recaudador de impuestos, este es el dinero real que queda en su bolsillo al final del día.
$-2.0B
+24.3%
-31.5%
Margen brutoEl margen básico. Si venden unas zapatillas de 100 dólares, este porcentaje indica cuánto de ese precio es ganancia justo después de pagar el caucho y los cordones, pero antes de pagar el alquiler de la tienda o los anuncios de televisión.
+27.0%
+1.0%
+12.1%
Margen operativoLa puntuación de eficiencia del 'trabajo diario'. De cada dólar que gasta un cliente, esto muestra cuántos centavos mantiene la empresa después de fabricar el producto Y pagar todos los gastos generales corporativos (como salarios, marketing y mantener las luces encendidas).
+10.6%
+15.9%
-12.4%
Margen netoEl porcentaje final que se lleva a casa. Cuando se eliminan todos los costos concebibles, impuestos y pagos de intereses, este es el número exacto de centavos que la empresa realmente se queda de cada dólar en ventas.
-4.5%
+24.7%
-21.0%
Flujo de caja libreEl santo grial del efectivo corporativo. Es el dinero físico gastable que queda después de que el negocio paga sus operaciones diarias Y compra las actualizaciones grandes y costosas (como nuevas fábricas o servidores) que necesita para sobrevivir. Este es el dinero 'libre' que pueden usar para pagar dividendos o recomprar acciones.
$-6.8B
-314.6%
+31.8%
Margen FCFLa tasa definitiva de conversión de efectivo. Muestra qué tan buena es la empresa para convertir ventas regulares directamente en efectivo frío, duro y gastable. Un porcentaje alto significa que el negocio es una auténtica máquina de imprimir dinero.
-15.4%
-313.5%
+37.2%
Deuda/PatrimonioEl indicador de riesgo financiero. Compara cuánto del imperio de la empresa se construyó con dinero prestado (préstamos) frente al dinero propio de los propietarios (accionistas). Un número alto significa que están muy apalancados y juegan un juego más arriesgado; un número bajo significa que juegan a lo seguro.
419.5%
-9.8%
+11.6%
Ratio corrienteLa verificación de supervivencia de 12 meses. Simplemente compara el efectivo que tienen ahora mismo (más cosas que pueden convertirse rápidamente en efectivo) con las facturas inmediatas que absolutamente deben pagar este año. Una puntuación superior a 1 significa que tienen suficiente en la billetera para cubrir las próximas facturas sin entrar en pánico.
1.08x
-31.8%
+3.3%
Activos totalesEl tamaño absoluto del imperio de la empresa. Agrupa absolutamente todo lo valioso que poseen, desde el efectivo en la caja registradora y el inventario en el almacén, hasta las patentes de software en la bóveda y las fábricas en el suelo.
Operator: Good morning, and thank you for holding. At this time, we would like to welcome everyone to CSN's Conference Call for the Results for the Second Quarter '26. Today, we have with us 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 www.csn.com.br/ir, where the presentation is also available. The replay of the event will be available soon after closing. Before proceeding, please bear in mind that some of the forward-looking statements herein are mere expectations or trends based on the current assumptions and opinions of the company's management. Future results, performance and events may differ materially from those expressed herein which 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 the general and economic conditions in Brazil, interest rates, exchange rate levels, future rescheduling or prepayment of debt denominated in foreign currencies, protectionist measures in the U.S., Brazil and other countries, changes in laws and regulations and general competitive factors at a global, regional or national basis. We will now turn the floor over to Mr. Marco Rabello, Investor Relations Executive Officer, who will present the company's operating and financial highlights for CSN for the period. You may proceed, sir.
Antonio Marco Rabello: Good morning, everybody, and thank you for participating in another CSN conference call. We're going to present the results for the second quarter '26, a very important period for the company where the company was able to overcome all the adversities relating to costs and raw materials to offer vigorous growth of EBITDA in the previous quarter and in comparison with the quarter of '25. This 5% increase in consolidated EBITDA is a result of better operational performance in all segments, sales and the commercial activity. You also see the importance of having a diversified operation without bending to the pressures of a specific sector. Financially, another important point was the release of cash flow and the positive cash flow during the period increased compared to previous quarter. Now this movement reflects the evolution of the projects that the company has been working on since the beginning of the year to resolve the capital structure. With this, the expectation is that the company will gradually evolve to a more sustainable cash generation going forward. We're very satisfied to announce the conclusion of the new 2030 bond with a leverage of more than 77%. This shows the success of the operation and the credibility that people have in the project and movement of the company. It's important for the company to calmly carry out its projects. For example, the divestment of assets, the conclusion of P15 release of working capital in the company. After the …
