CSN: EBITDA Margin Reaches 41% and Gross Profit Stands at R$1.4 Billion in 1Q10

SAO PAULO, May 6 /PRNewswire-FirstCall/ -- CSN - Companhia Siderurgica Nacional (BM&FBOVESPA: CSNA3) (NYSE: SID) announces its results for the 1Q10:

• Steel product sales volume totaled 1.3 million tonnes in 1Q10, 96% up on 1Q09, led by the domestic market;

• Net revenue came to R$3.2 billion in 1Q10, 30% up on 1Q09, thanks to the strong recovery of steel product sales;

• Gross profit in 1Q10 stood at R$1.4 billion, 85% more than in 1Q09;

• 1Q10 EBITDA totaled R$1.3 billion, 91% up on 1Q09;

• EBITDA in the last 12 months amounted to R$4.2 billion, leading to a reduction in net debt/EBITDA ratio to 1.56x when compared to the 1.74x ratio recorded at the close of 2009;

• The 1Q10 EBITDA margin reached 41%, 13 p.p. up on 1Q09, confirming CSN's operating margin recovery;

• Net income in 1Q10 totaled R$482 million, 31% up on 1Q09;

• CSN is a highly capitalized company, with a cash position of R$9.1 billion;

• In 1Q10, CSN's shares appreciated by 27% on the Sao Paulo Stock Exchange, the second highest appreciation among the shares composing the Bovespa Index (IBOVESPA), which appreciated by 3% in the period. On the NYSE, CSN's ADR prices posted an expressive increase of 25%, compared to a 4% appreciation of the Dow Jones index.

The full 1Q10 Earnings Release is available on CSN's IR website at www.csn.com.br/ir  

CSN will be hosting conference calls about its 1Q10 Results TOMORROW, May 7, 2010, at 11:00 a.m. U.S. EDT in English and 9:00 a.m. U.S. EDT in Portuguese. Connection details may be obtained on the Company's IR website.

SOURCE CSN - Companhia Siderugica Nacional