The following is a summary of the Companhia Siderúrgica Nacional (SID) Q4 2023 Earnings Call Transcript:

Financial Performance:

• CSN saw margin growth significantly in Q4 of 2023, from $37 per ton to $70 per ton and improved slab cost to R$ 3,000 per ton.

• The company reported a robust Q4 EBITDA of R$ 3.6 billion resulting in an EBITDA margin of 29%.

• Strong cash generation of R$ 387 million enabled debt reduction, and leverage rate declined for the second consecutive quarter.

• Despite sectoral challenges, year-end EBITDA margin showed a sequential growth of nearly 30%.

• CSN lowered costs by 7% and uplifted sales by 7% even when the overall market saw a drop of 1.5%.

Business Progress:

• CSN has initiated a program to improve safety, reduce accident rates, and maintain dam stability.

• Diversity has markedly improved, with women's representation reaching 60% in 2023.

• CSN achieved a reputable A- rating on the CDP's environmental management scale and is recognized as a leader in this field.

• The company is targeting strategic growth and deleveraging, with a focus on making each business segment independent and standalone.

• The Lafarge integration process was concluded successfully, capturing more than 90% of synergies.

• Mining showed strong operational performance with sale growth of 28%.

• In the cement business, there was a YoY growth of 7% with EBITDA margins reaching 24%, aiming to reach past margins of 30% in future.

• CSN is actively pursuing partnerships and considering IPOs for its cement sector to manage leverage and bolster growth.

More details: National Steel IR

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